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

Incannex Healthcare Inc. (NASDAQ:IXHL) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 77,300 shares, a decline of 13.6% from the February 13th total of 89,500 shares. Based on an average daily volume of 59,200 shares, the short-interest ratio is currently 1.3 days. Approximately 0.6% of the shares of the company are short sold.

Institutional Trading of Incannex Healthcare

A number of large investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in Incannex Healthcare in the third quarter valued at $73,000. AdvisorShares Investments LLC grew its position in 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 acquiring an additional 38,505 shares during the period. Finally, Jane Street Group LLC bought a new stake in Incannex Healthcare in the fourth quarter valued at $100,000. 0.43% of the stock is currently owned by institutional investors.

Incannex Healthcare Stock Performance

Shares of IXHL traded up $0.02 on Wednesday, reaching $0.84. 390,983 shares of the stock traded hands, compared to its average volume of 41,725. The firm has a market cap of $15.00 million, a price-to-earnings ratio of -0.61 and a beta of 7.49. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.80 and a quick ratio of 1.65. Incannex Healthcare has a 12 month low of $0.73 and a 12 month high of $3.60. The stock’s 50-day moving average price is $1.55 and its 200-day moving average price is $1.81.

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