Geode Capital Management LLC Increases Position in Lexaria Bioscience Corp. (NASDAQ:LEXX)

Geode Capital Management LLC raised its position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 166,679 shares of the company’s stock after buying an additional 16,288 shares during the quarter. Geode Capital Management LLC owned about 0.95% of Lexaria Bioscience worth $350,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC boosted its holdings in Lexaria Bioscience by 61.4% in the fourth quarter. HighTower Advisors LLC now owns 21,023 shares of the company’s stock worth $44,000 after acquiring an additional 8,000 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Lexaria Bioscience in the 4th quarter worth $127,000. Finally, Byrne Asset Management LLC lifted its position in Lexaria Bioscience by 132.1% during the 4th quarter. Byrne Asset Management LLC now owns 13,000 shares of the company’s stock worth $27,000 after acquiring an additional 7,400 shares during the period. 13.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright lowered their price target on shares of Lexaria Bioscience from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, January 24th.

Lexaria Bioscience Stock Down 3.3 %

LEXX stock opened at $1.19 on Friday. Lexaria Bioscience Corp. has a 52-week low of $1.14 and a 52-week high of $4.44. The company’s 50-day simple moving average is $1.45 and its 200-day simple moving average is $1.89. The firm has a market cap of $20.90 million, a P/E ratio of -2.38 and a beta of 0.86.

Lexaria Bioscience (NASDAQ:LEXX) last posted its quarterly earnings data on Monday, April 14th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. Lexaria Bioscience had a negative return on equity of 88.88% and a negative net margin of 1,473.04%. The company had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.14 million. On average, analysts anticipate that Lexaria Bioscience Corp. will post -0.59 earnings per share for the current fiscal year.

About Lexaria Bioscience

Lexaria Bioscience Corp. operates as a biotechnology company. It develops and out-licenses its patented drug delivery technology, DehydraTECH, which combines lipophilic molecules or active pharmaceutical ingredients with specific long-chain fatty acids and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing while promoting healthier oral ingestion methods.