Incannex Healthcare Limited (NASDAQ:IXHL – Get Rating) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 11,000 shares, a decrease of 24.7% from the December 31st total of 14,600 shares. Based on an average trading volume of 6,800 shares, the days-to-cover ratio is currently 1.6 days.

Incannex Healthcare Stock Down 0.9 %

Incannex Healthcare stock opened at $3.41 on Monday. Incannex Healthcare has a twelve month low of $2.60 and a twelve month high of $90.00. The stock's fifty day simple moving average is $3.34 and its 200-day simple moving average is $3.98.

Institutional Trading of Incannex Healthcare

Large investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Incannex Healthcare during the first quarter worth $378,000. FNY Investment Advisers LLC acquired a new position in shares of Incannex Healthcare during the third quarter worth $69,000. Finally, UBS Group AG acquired a new position in shares of Incannex Healthcare during the first quarter worth $25,000. Hedge funds and other institutional investors own 0.07% of the company's stock.

About Incannex Healthcare

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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