Short Interest in Incannex Healthcare Inc. (NASDAQ:IXHL) Increases By 34.2%

Incannex Healthcare Inc. (NASDAQ:IXHL) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 62,400 shares, an increase of 34.2% from the December 31st total of 46,500 shares. Based on an average trading volume of 31,300 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.5% of the company’s stock are short sold.

Hedge Funds Weigh In On Incannex Healthcare

A hedge fund recently bought a new stake in Incannex Healthcare stock. Virtu Financial LLC acquired a new stake in shares of Incannex Healthcare Inc. (NASDAQ:IXHL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 36,622 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned about 0.21% of Incannex Healthcare as of its most recent SEC filing. 0.43% of the stock is currently owned by institutional investors.

Incannex Healthcare Stock Performance

Shares of IXHL stock opened at $1.67 on Friday. The company’s fifty day moving average price is $1.82 and its 200-day moving average price is $1.94. Incannex Healthcare has a 12 month low of $1.50 and a 12 month high of $8.47.

About Incannex Healthcare

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.