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

Incannex Healthcare Inc. (NASDAQ:IXHL) saw a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 89,500 shares, a decrease of 19.2% from the January 31st total of 110,700 shares. Based on an average trading volume of 54,400 shares, the short-interest ratio is currently 1.6 days. Currently, 0.7% of the shares of the stock are short sold.

Institutional Trading of Incannex Healthcare

A number of institutional investors have recently made changes to their positions in IXHL. Jane Street Group LLC purchased a new position in Incannex Healthcare in the 4th quarter valued at $100,000. AdvisorShares Investments LLC raised its position in shares of Incannex Healthcare by 30.3% in the fourth quarter. AdvisorShares Investments LLC now owns 165,495 shares of the company’s stock valued at $351,000 after buying an additional 38,505 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Incannex Healthcare in the third quarter worth about $73,000. 0.43% of the stock is owned by institutional investors and hedge funds.

Incannex Healthcare Price Performance

IXHL traded down $0.04 during midday trading on Tuesday, hitting $1.17. 11,766 shares of the company traded hands, compared to its average volume of 44,497. The company has a market capitalization of $20.90 million, a price-to-earnings ratio of -0.84 and a beta of 7.44. The business has a 50 day simple moving average of $1.79 and a two-hundred day simple moving average of $1.88. The company has a current ratio of 1.80, a quick ratio of 1.65 and a debt-to-equity ratio of 2.47. Incannex Healthcare has a 52-week low of $1.15 and a 52-week high of $5.34.

Incannex Healthcare (NASDAQ:IXHL) last issued its quarterly earnings results on Friday, February 14th. The company reported ($0.33) earnings per share for the quarter. The company had revenue of $10 billion for the quarter.

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.