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

Posted by Latisha Jones on Feb 12th, 2025

Incannex Healthcare Inc. (NASDAQ:IXHL – Get Free Report) was the recipient 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. Based on an average daily trading volume, of 55,500 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.9% of the company’s shares are short sold.

Hedge Funds Weigh In On Incannex Healthcare

A hedge fund recently bought a new stake in Incannex Healthcare stock. Virtu Financial LLC purchased a new position in Incannex Healthcare Inc. (NASDAQ:IXHL – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 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. 0.43% of the stock is owned by hedge funds and other institutional investors.

Incannex Healthcare Stock Down 4.2 %

Shares of IXHL stock traded down $0.08 during mid-day trading on Wednesday, reaching $1.73. The company’s stock had a trading volume of 61,465 shares, compared to its average volume of 89,551. The company’s 50 day simple moving average is $1.85 and its 200-day simple moving average is $1.92. Incannex Healthcare has a 12-month low of $1.50 and a 12-month high of $8.47. The firm has a market capitalization of $30.43 million, a PE ratio of -1.24 and a beta of 7.44.

Incannex Healthcare Company Profile

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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.