Incannex Healthcare Limited (NASDAQ:IXHL – Get Rating) was the recipient of a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 14,600 shares, a growth of 25.9% from the December 15th total of 11,600 shares. Based on an average trading volume of 8,400 shares, the days-to-cover ratio is presently 1.7 days.

Incannex Healthcare Trading Down 2.9 %

NASDAQ IXHL traded down $0.10 during trading on Friday, reaching $3.40. 819 shares of the company's stock were exchanged, compared to its average volume of 2,886. Incannex Healthcare has a fifty-two week low of $2.60 and a fifty-two week high of $90.00. The company's fifty day simple moving average is $3.42 and its 200-day simple moving average is $3.99.

Institutional Investors Weigh In On Incannex Healthcare

Institutional investors have recently bought and sold shares of the business. UBS Group AG acquired a new stake in Incannex Healthcare during the 1st quarter worth about $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Incannex Healthcare during the 3rd quarter worth about $69,000. Finally, Jane Street Group LLC purchased a new stake in shares of Incannex Healthcare during the 3rd quarter worth about $81,000. 0.07% of the stock is currently owned by institutional investors and hedge funds.

Incannex Healthcare Company Profile

Incannex Healthcare Limited engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies in Australia. It offers APIRx-1801, an ultrapure tetrahydrocannabinol; APIRx-1802, an ultrapure CBD; and APIRx-1803, an ultrapure cannabigerol. The company also develops IHL-42X, which has completed Phase IIa clinical trial for obstructive sleep apnea; Psi-GAD that is in Phase IIa clinical trial for generalized anxiety disorder; MedChew Dronabinol, which has completed Phase Ia clinical trial for nausea and vomiting in chemotherapy; CanChew Plus that has completed Phase IIa clinical trial for irritable bowel syndrome; APIRx-1601, which has completed Phase IIa clinical trial for vitiligo; APIRx-1602 that has completed Phase IIa clinical trial for psoriasis; and APIRx-1603, which has completed Phase IIa clinical trial for atopic dermatitis.

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