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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 77,300 shares, a decrease of 13.6% from the February 13th total of 89,500 shares. Based on an average trading volume of 59,200 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.6% of the company’s shares are sold short.

Institutional Investors Weigh In On Incannex Healthcare

Several large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Incannex Healthcare in the third quarter worth about $73,000. AdvisorShares Investments LLC increased its holdings in shares of Incannex Healthcare by 30.3% in the fourth quarter. AdvisorShares Investments LLC now owns 165,495 shares of the company’s stock worth $351,000 after acquiring an additional 38,505 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Incannex Healthcare in the fourth quarter worth about $100,000. 0.43% of the stock is currently owned by institutional investors.

Incannex Healthcare Trading Up 1.8 %

Shares of IXHL traded up $0.02 during trading hours on Wednesday, hitting $0.84. 390,983 shares of the stock traded hands, compared to its average volume of 41,725. The company has a current ratio of 1.80, a quick ratio of 1.65 and a debt-to-equity ratio of 2.47. Incannex Healthcare has a 1-year low of $0.73 and a 1-year high of $3.60. The firm has a market capitalization of $15.00 million, a PE ratio of -0.61 and a beta of 7.49. The business has a fifty day moving average of $1.55 and a 200-day moving average of $1.81.

Incannex Healthcare (NASDAQ:IXHL) last released its quarterly earnings data on Friday, February 14th. The company reported ($0.33) EPS for the quarter. The company had revenue of $10 billion during the quarter.

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.