Lexaria Bioscience Corp. (NASDAQ:LEXX) CEO Acquires $51,134.72 in Stock

Lexaria Bioscience Corp. (NASDAQ:LEXX) CEO Richard Christopher acquired 22,828 shares of Lexaria Bioscience stock in a transaction on Monday, December 2nd. The shares were bought at an average cost of $2.24 per share, with a total value of $51,134.72. Following the completion of the transaction, the chief executive officer now owns 22,828 shares of the company’s stock, valued at approximately $51,134.72. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lexaria Bioscience Trading Up 20.5 %

Lexaria Bioscience stock opened at $2.70 on Wednesday. The company has a market capitalization of $47.12 million, a price-to-earnings ratio of -5.74 and a beta of 0.99. Lexaria Bioscience Corp. has a 12 month low of $1.20 and a 12 month high of $6.85. The stock’s 50 day moving average is $2.58 and its 200-day moving average is $2.97.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Lexaria Bioscience in a research note on Monday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Lexaria Bioscience by 31.0% during the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock worth $459,000 after purchasing an additional 35,608 shares during the period. XTX Topco Ltd raised its holdings in shares of Lexaria Bioscience by 47.8% during the 3rd quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after buying an additional 6,024 shares in the last quarter. HighTower Advisors LLC acquired a new position in Lexaria Bioscience during the third quarter worth about $40,000. Armistice Capital LLC acquired a new position in Lexaria Bioscience during the 2nd quarter worth approximately $2,836,000. Finally, Renaissance Technologies LLC bought a new position in shares of Lexaria Bioscience in the 2nd quarter valued at $63,000. 13.06% of the stock is owned by institutional investors and hedge funds.

Lexaria Bioscience Company Profile

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.