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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the target of a significant increase in short interest in 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. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 31,300 shares, the days-to-cover ratio is presently 2.0 days.

Incannex Healthcare Trading Up 4.3 %

Shares of Incannex Healthcare stock opened at $1.93 on Friday. Incannex Healthcare has a 1 year low of $1.50 and a 1 year high of $8.47. The firm’s 50-day moving average is $1.93 and its 200 day moving average is $2.01.

Institutional Investors Weigh In On Incannex Healthcare

An institutional investor recently bought a new position in Incannex Healthcare stock. Virtu Financial LLC bought a new position in shares of Incannex Healthcare Inc. (NASDAQ:IXHL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 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. Hedge funds and other institutional investors own 0.43% of the company’s stock.

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.