Lexaria Bioscience (NASDAQ:LEXX) Trading Down 1.8% – Should You Sell?

Lexaria Bioscience Corp. (NASDAQ:LEXX) shares traded down 1.8% during mid-day trading on Thursday . The stock traded as low as $2.12 and last traded at $2.16. 101,049 shares were traded during mid-day trading, a decline of 62% from the average session volume of 265,188 shares. The stock had previously closed at $2.20.

Lexaria Bioscience Stock Performance

The company has a 50 day moving average of $2.71 and a two-hundred day moving average of $3.02. The stock has a market capitalization of $33.06 million, a PE ratio of -4.75 and a beta of 1.02.

Institutional Trading of Lexaria Bioscience

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd raised its position 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 purchasing an additional 6,024 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Lexaria Bioscience during the third quarter valued at approximately $40,000. Renaissance Technologies LLC purchased a new position in shares of Lexaria Bioscience in the second quarter valued at approximately $63,000. Geode Capital Management LLC lifted its position in shares of Lexaria Bioscience by 31.0% in the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after acquiring an additional 35,608 shares in the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Lexaria Bioscience in the second quarter worth approximately $2,836,000. 13.06% of the stock is owned by institutional investors and hedge funds.

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.