Incannex Healthcare Inc. (NASDAQ:IXHL) Sees Significant Increase in Short Interest

Incannex Healthcare Inc. (NASDAQ:IXHL) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 38,900 shares, an increase of 177.9% from the July 15th total of 14,000 shares. Based on an average trading volume of 31,900 shares, the short-interest ratio is currently 1.2 days. Approximately 0.3% of the company’s stock are sold short.

Institutional Investors Weigh In On Incannex Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Incannex Healthcare during the 1st quarter valued at about $39,000. AdvisorShares Investments LLC bought a new position in Incannex Healthcare during the fourth quarter valued at $180,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Incannex Healthcare in the fourth quarter worth about $379,000. Finally, Tidal Investments LLC purchased a new stake in Incannex Healthcare in the first quarter worth about $1,520,000. 0.43% of the stock is owned by hedge funds and other institutional investors.

Incannex Healthcare Stock Down 1.1 %

IXHL traded down $0.02 during midday trading on Thursday, reaching $1.83. The company had a trading volume of 7,261 shares, compared to its average volume of 145,021. The business has a 50-day moving average price of $2.65 and a two-hundred day moving average price of $3.08. Incannex Healthcare has a 12-month low of $0.80 and a 12-month high of $12.68.

Incannex Healthcare (NASDAQ:IXHL) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.38) EPS for the quarter.

Incannex Healthcare Company Profile

Incannex Healthcare Inc, a clinical stage pharmaceutical development company, engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies. It develops products for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, pain, and other indications.