Incannex Healthcare Inc. (NASDAQ:IXHL) Short Interest Up 113.1% in March

Incannex Healthcare Inc. (NASDAQ:IXHL) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 208,200 shares, an increase of 113.1% from the February 29th total of 97,700 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 309,800 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Incannex Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in IXHL. Vanguard Group Inc. acquired a new stake in shares of Incannex Healthcare during the fourth quarter worth about $529,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Incannex Healthcare during the fourth quarter worth about $379,000. AdvisorShares Investments LLC acquired a new stake in shares of Incannex Healthcare during the fourth quarter worth about $180,000. Jane Street Group LLC acquired a new stake in shares of Incannex Healthcare during the first quarter worth about $378,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Incannex Healthcare during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 0.43% of the company’s stock.

Incannex Healthcare Stock Up 12.2 %

Incannex Healthcare stock traded up $0.39 during midday trading on Thursday, reaching $3.59. The company’s stock had a trading volume of 56,099 shares, compared to its average volume of 328,801. Incannex Healthcare has a fifty-two week low of $0.80 and a fifty-two week high of $12.68. The business has a 50-day simple moving average of $3.95 and a 200-day simple moving average of $2.98.

Incannex Healthcare (NASDAQ:IXHL) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.33) earnings per share for the quarter.

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.