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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 38,900 shares, an increase of 177.9% from the July 15th total of 14,000 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 31,900 shares, the short-interest ratio is currently 1.2 days.

Institutional Investors Weigh In On Incannex Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in shares of Incannex Healthcare in the first quarter worth $1,520,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Incannex Healthcare during the 4th quarter valued at approximately $379,000. AdvisorShares Investments LLC grew its holdings in Incannex Healthcare by 57.1% during the 2nd quarter. AdvisorShares Investments LLC now owns 80,002 shares of the company’s stock valued at $238,000 after buying an additional 29,087 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Incannex Healthcare during the 1st quarter valued at approximately $39,000. 0.43% of the stock is currently owned by institutional investors.

Incannex Healthcare Stock Down 1.1 %

Shares of IXHL stock traded down $0.02 on Thursday, reaching $1.83. The company had a trading volume of 7,261 shares, compared to its average volume of 145,021. The business’s 50-day moving average is $2.65 and its 200 day moving average is $3.08. Incannex Healthcare has a one year low of $0.80 and a one year high of $12.68.

Incannex Healthcare (NASDAQ:IXHL) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.38) earnings per share (EPS) for 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.