Incannex Healthcare Inc. (NASDAQ:IXHL – Get Free Report) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 62,400 shares, an increase of 34.2% from the December 31st total of 46,500 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 31,300 shares, the days-to-cover ratio is presently 2.0 days.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Incannex Healthcare stock. Virtu Financial LLC bought a new position in shares of Incannex Healthcare Inc. (NASDAQ:IXHL – Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,622 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned approximately 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 institutional investors and hedge funds.
Incannex Healthcare Price Performance
Shares of IXHL stock traded up $0.04 on Friday, hitting $1.67. The stock had a trading volume of 29,398 shares, compared to its average volume of 95,290. The company’s 50 day moving average price is $1.82 and its 200-day moving average price is $1.94. Incannex Healthcare has a 1 year low of $1.50 and a 1 year high of $8.47. The firm has a market capitalization of $29.46 million, a P/E ratio of -1.20 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.
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