Incannex Healthcare Inc. (NASDAQ:IXHL) Short Interest Update

Incannex Healthcare Inc. (NASDAQ:IXHL) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 38,900 shares, a growth of 177.9% from the July 15th total of 14,000 shares. Based on an average trading volume of 31,900 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.3% of the company’s stock are sold short.

Institutional Trading of Incannex Healthcare

Several hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new stake in Incannex Healthcare in the first quarter worth about $1,520,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Incannex Healthcare in the 4th quarter valued at about $379,000. AdvisorShares Investments LLC lifted its stake in Incannex Healthcare by 57.1% during the second quarter. AdvisorShares Investments LLC now owns 80,002 shares of the company’s stock valued at $238,000 after purchasing an additional 29,087 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Incannex Healthcare during the 1st quarter valued at $39,000. Institutional investors own 0.43% of the company’s stock.

Incannex Healthcare Stock Performance

Shares of IXHL stock traded down $0.04 during trading hours on Tuesday, hitting $1.93. 15,412 shares of the company were exchanged, compared to its average volume of 146,653. Incannex Healthcare has a one year low of $0.80 and a one year high of $12.68. The business’s 50-day simple moving average is $2.69 and its two-hundred day simple moving average is $3.11.

Incannex Healthcare (NASDAQ:IXHL) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.38) earnings per share (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.