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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 62,400 shares, a growth of 34.2% from the December 15th total of 46,500 shares. Based on an average trading volume of 31,300 shares, the short-interest ratio is currently 2.0 days. Approximately 0.5% of the company’s shares are short sold.

Hedge Funds Weigh In On Incannex Healthcare

An institutional investor recently bought a new position in Incannex Healthcare stock. Virtu Financial LLC bought a new position in shares of Incannex Healthcare Inc. (NASDAQ:IXHL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,622 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned 0.21% of Incannex Healthcare at the end of the most recent reporting period. 0.43% of the stock is currently owned by institutional investors and hedge funds.

Incannex Healthcare Stock Performance

Shares of Incannex Healthcare stock opened at $1.93 on Friday. Incannex Healthcare has a fifty-two week low of $1.50 and a fifty-two week high of $8.47. The firm has a market capitalization of $34.05 million, a price-to-earnings ratio of -1.39 and a beta of 7.54. The stock has a 50 day moving average of $1.93 and a 200 day moving average of $2.01.

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.