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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 14,000 shares, an increase of 100.0% from the June 30th total of 7,000 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 25,600 shares, the short-interest ratio is presently 0.5 days.

Incannex Healthcare Price Performance

IXHL traded up $0.01 on Friday, reaching $2.17. The company had a trading volume of 12,046 shares, compared to its average volume of 154,332. Incannex Healthcare has a 1 year low of $0.80 and a 1 year high of $12.68. The stock has a 50-day moving average price of $2.87 and a 200-day moving average price of $3.30.

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

Institutional Investors Weigh In On Incannex Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC acquired a new position in Incannex Healthcare during the first quarter worth about $1,520,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Incannex Healthcare during the fourth quarter worth about $379,000. AdvisorShares Investments LLC acquired a new position in Incannex Healthcare during the fourth quarter worth about $180,000. Finally, Virtu Financial LLC acquired a new position in Incannex Healthcare during the first quarter worth about $39,000. 0.43% of the stock is owned by hedge funds and other institutional investors.

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.