Short Interest in Incannex Healthcare Inc. (NASDAQ:IXHL) Grows By 113.1%

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

Incannex Healthcare Stock Up 12.2 %

Incannex Healthcare stock traded up $0.39 during mid-day trading on Thursday, hitting $3.59. 56,099 shares of the stock were exchanged, compared to its average volume of 328,801. Incannex Healthcare has a 12 month low of $0.80 and a 12 month high of $12.68. The firm’s fifty day simple moving average is $3.95 and its two-hundred day simple moving average is $2.98.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. acquired a new position in shares of Incannex Healthcare during the fourth quarter valued at about $529,000. Citadel Advisors LLC bought a new stake in shares of Incannex Healthcare during the fourth quarter valued at approximately $64,000. AdvisorShares Investments LLC bought a new position in shares of Incannex Healthcare in the 4th quarter worth $180,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Incannex Healthcare during the 4th quarter valued at $379,000. Finally, Jane Street Group LLC lifted its stake in shares of Incannex Healthcare by 38.8% in the fourth quarter. Jane Street Group LLC now owns 25,610 shares of the company’s stock valued at $72,000 after buying an additional 7,161 shares in the last quarter. Institutional investors and hedge funds own 0.43% of the company’s stock.

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.