Incannex Healthcare Inc. (NASDAQ:IXHL) Short Interest Update

Incannex Healthcare Inc. (NASDAQ:IXHL) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 113,400 shares, an increase of 72.3% from the August 15th total of 65,800 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 31,100 shares, the days-to-cover ratio is currently 3.6 days.

Incannex Healthcare Trading Up 3.8 %

IXHL traded up $0.06 during mid-day trading on Friday, hitting $1.63. The stock had a trading volume of 14,504 shares, compared to its average volume of 131,775. The stock’s fifty day simple moving average is $2.01 and its 200-day simple moving average is $2.74. Incannex Healthcare has a 1-year low of $0.80 and a 1-year high of $12.68.

Institutional Trading of Incannex Healthcare

Hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC bought a new stake in shares of Incannex Healthcare in the first quarter worth about $1,520,000. AdvisorShares Investments LLC acquired a new position in shares of Incannex Healthcare in the 4th quarter valued at approximately $180,000. Finally, Virtu Financial LLC bought a new stake in Incannex Healthcare during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds 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.