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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the target of a large increase in short interest during the month of 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 company are sold short. Based on an average daily volume of 31,300 shares, the days-to-cover ratio is presently 2.0 days.

Incannex Healthcare Price Performance

NASDAQ:IXHL traded up $0.06 during midday trading on Thursday, hitting $1.81. The company’s stock had a trading volume of 14,998 shares, compared to its average volume of 18,884. Incannex Healthcare has a fifty-two week low of $1.50 and a fifty-two week high of $8.47. The firm has a market cap of $31.84 million, a P/E ratio of -1.30 and a beta of 7.54. The firm’s 50 day moving average is $1.96 and its 200-day moving average is $2.02.

Institutional Trading of Incannex Healthcare

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

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.