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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 38,900 shares, an increase of 177.9% from the July 15th total of 14,000 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 31,900 shares, the short-interest ratio is presently 1.2 days.

Incannex Healthcare Price Performance

IXHL traded down $0.04 during trading on Tuesday, reaching $1.93. 15,412 shares of the company were exchanged, compared to its average volume of 146,653. The firm has a 50 day moving average of $2.69 and a 200 day moving average of $3.11. Incannex Healthcare has a 52 week low of $0.80 and a 52 week high of $12.68.

Incannex Healthcare (NASDAQ:IXHL) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.38) earnings per share for the quarter.

Hedge Funds Weigh In On Incannex Healthcare

A number of institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in Incannex Healthcare during the first quarter worth $39,000. AdvisorShares Investments LLC acquired a new position in Incannex Healthcare in the fourth quarter valued at about $180,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Incannex Healthcare during the 4th quarter valued at $379,000. Finally, Tidal Investments LLC bought a new position in shares of Incannex Healthcare in the first quarter valued at about $1,520,000. 0.43% of the stock is currently owned by institutional investors.

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.