Incannex Healthcare Inc. (NASDAQ:IXHL – Get Free Report) was the target of a significant increase in short interest during 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. Based on an average daily trading volume, of 31,300 shares, the short-interest ratio is presently 2.0 days. Approximately 0.5% of the company’s stock are short sold.
Incannex Healthcare Price Performance
NASDAQ:IXHL traded down $0.03 during mid-day trading on Thursday, reaching $1.63. The stock had a trading volume of 13,327 shares, compared to its average volume of 100,506. The company has a market capitalization of $28.67 million, a price-to-earnings ratio of -1.17 and a beta of 7.54. Incannex Healthcare has a 1-year low of $1.50 and a 1-year high of $8.47. The stock’s 50 day simple moving average is $1.83 and its two-hundred day simple moving average is $1.95.
Institutional Investors Weigh In On Incannex Healthcare
An institutional investor recently bought a new position in Incannex Healthcare stock. Virtu Financial LLC acquired a new position in Incannex Healthcare Inc. (NASDAQ:IXHL – Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 36,622 shares of the company’s stock, valued at approximately $73,000. Virtu Financial LLC owned approximately 0.21% of Incannex Healthcare at the end of the most recent reporting period. 0.43% of the stock is currently owned by institutional investors and hedge funds.
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.
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