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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 110,700 shares, a growth of 277.8% from the January 15th total of 29,300 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average trading volume of 55,500 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Incannex Healthcare stock. Virtu Financial LLC acquired a new stake in Incannex Healthcare Inc. (NASDAQ:IXHL) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 36,622 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned 0.21% of Incannex Healthcare as of its most recent filing with the SEC. Institutional investors own 0.43% of the company’s stock.

Incannex Healthcare Stock Up 2.5 %

Shares of IXHL stock traded up $0.04 during trading hours on Thursday, reaching $1.77. 23,304 shares of the stock traded hands, compared to its average volume of 87,132. Incannex Healthcare has a 1-year low of $1.50 and a 1-year high of $8.47. The business has a fifty day moving average price of $1.84 and a 200 day moving average price of $1.92. The firm has a market capitalization of $31.22 million, a PE ratio of -1.27 and a beta of 7.44.

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.