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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totalling 65,800 shares, a growth of 69.2% from the July 31st total of 38,900 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 32,300 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AdvisorShares Investments LLC boosted its stake in shares of Incannex Healthcare by 57.1% in the 2nd quarter. AdvisorShares Investments LLC now owns 80,002 shares of the company’s stock valued at $238,000 after purchasing an additional 29,087 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Incannex Healthcare during the 1st quarter worth approximately $39,000. Finally, Tidal Investments LLC acquired a new stake in shares of Incannex Healthcare during the 1st quarter worth approximately $1,520,000. Institutional investors and hedge funds own 0.43% of the company’s stock.

Incannex Healthcare Stock Performance

Shares of NASDAQ:IXHL opened at $1.76 on Friday. The firm has a 50 day moving average of $2.27 and a 200-day moving average of $2.96. Incannex Healthcare has a 12 month low of $0.80 and a 12 month high of $12.68.

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.