Incannex Healthcare (NASDAQ:IXHL) Trading Up 5.5% – Here’s Why

Incannex Healthcare Inc. (NASDAQ:IXHLGet Free Report) traded up 5.5% on Monday . The company traded as high as $2.17 and last traded at $2.11. 30,861 shares were traded during trading, a decline of 72% from the average session volume of 111,707 shares. The stock had previously closed at $2.00.

Incannex Healthcare Stock Down 2.8 %

The stock’s 50-day simple moving average is $2.07 and its 200 day simple moving average is $2.33. The firm has a market cap of $132.67 million, a P/E ratio of -1.50 and a beta of 8.11.

Incannex Healthcare (NASDAQ:IXHLGet Free Report) last released its quarterly earnings data on Monday, September 30th. The company reported ($0.39) EPS for the quarter. The firm had revenue of $0.01 million during the quarter.

Institutional Trading of Incannex Healthcare

Hedge funds have recently made changes to their positions in the company. Tidal Investments LLC purchased a new position in Incannex Healthcare during the first quarter valued at approximately $1,520,000. Virtu Financial LLC purchased a new position in shares of Incannex Healthcare during the first quarter worth about $39,000. Finally, AdvisorShares Investments LLC raised its stake in Incannex Healthcare by 57.1% in the second quarter. AdvisorShares Investments LLC now owns 80,002 shares of the company’s stock valued at $238,000 after purchasing an additional 29,087 shares in the last quarter. 0.43% of the stock is currently owned by institutional investors.

Incannex Healthcare Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Incannex Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incannex Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.