Incannex Healthcare Inc. (NASDAQ:IXHL) Short Interest Up 34.2% in December

Incannex Healthcare Inc. (NASDAQ:IXHL) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 62,400 shares, an increase of 34.2% from the December 15th total of 46,500 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 31,300 shares, the days-to-cover ratio is presently 2.0 days.

Hedge Funds Weigh In On Incannex Healthcare

An institutional investor recently bought a new position in Incannex Healthcare stock. Virtu Financial LLC acquired a new position in shares of Incannex Healthcare Inc. (NASDAQ:IXHL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,622 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned about 0.21% of Incannex Healthcare as of its most recent filing with the Securities and Exchange Commission (SEC). 0.43% of the stock is owned by hedge funds and other institutional investors.

Incannex Healthcare Trading Up 3.1 %

NASDAQ:IXHL traded up $0.06 during trading hours on Thursday, reaching $1.81. 14,998 shares of the company were exchanged, compared to its average volume of 18,884. Incannex Healthcare has a twelve month low of $1.50 and a twelve month high of $8.47. The stock’s 50-day moving average is $1.96 and its 200-day moving average is $2.02. The firm has a market cap of $31.84 million, a PE ratio of -1.30 and a beta of 7.54.

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.