Lexaria Bioscience (NASDAQ:LEXX) Trading 13.2% Higher

Shares of Lexaria Bioscience Corp. (NASDAQ:LEXX – Get Rating) traded up 13.2% during trading on Tuesday . The company traded as high as $0.88 and last traded at $0.78. 1,658,700 shares were traded during trading, an increase of 1,683% from the average session volume of 93,028 shares. The stock had previously closed at $0.69.

Lexaria Bioscience Stock Up 13.2 %

The stock has a 50 day moving average price of $1.94 and a 200 day moving average price of $2.46. The stock has a market capitalization of $4.68 million, a price-to-earnings ratio of -0.67 and a beta of 0.59.

Hedge Funds Weigh In On Lexaria Bioscience

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in shares of Lexaria Bioscience in the second quarter worth approximately $34,000. Dimensional Fund Advisors LP acquired a new position in shares of Lexaria Bioscience in the third quarter worth approximately $37,000. Virtu Financial LLC acquired a new position in shares of Lexaria Bioscience in the first quarter worth approximately $40,000. Centiva Capital LP acquired a new position in Lexaria Bioscience in the second quarter valued at approximately $42,000. Finally, Susquehanna International Group LLP lifted its stake in Lexaria Bioscience by 64.8% in the fourth quarter. Susquehanna International Group LLP now owns 66,131 shares of the company’s stock valued at $162,000 after buying an additional 26,012 shares during the period. 11.56% of the stock is owned by institutional investors and hedge funds.

About Lexaria Bioscience

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Lexaria Bioscience Corp. is a biotechnology company, which engages in the provision of active pharmaceutical ingredients through its DehydraTECH drug delivery technology. Its products can be used with APIs encompassing fat-soluble vitamins, non-steroidal anti-inflammatory drugs (NSAIDs) pain medications, hormones, phosphodiesterase inhibitors, antivirals, nicotine and its analogs, and all cannabinoids including tetrahydrocannabinol (THC) for therapeutic indications, as well as hypertension, SARS-CoV-2/COVID-19, and HIV/AIDS.