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

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in shares of Incannex Healthcare during the fourth quarter valued at approximately $100,000. AdvisorShares Investments LLC boosted its holdings in Incannex Healthcare by 30.3% in the 4th quarter. AdvisorShares Investments LLC now owns 165,495 shares of the company’s stock valued at $351,000 after purchasing an additional 38,505 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Incannex Healthcare in the 3rd quarter worth $73,000. Institutional investors own 0.43% of the company’s stock.

Incannex Healthcare Price Performance

IXHL stock opened at $0.86 on Thursday. The company has a quick ratio of 1.65, a current ratio of 1.80 and a debt-to-equity ratio of 2.47. The firm has a market cap of $15.38 million, a price-to-earnings ratio of -0.62 and a beta of 7.49. The company’s fifty day simple moving average is $1.53 and its 200 day simple moving average is $1.80. Incannex Healthcare has a 12-month low of $0.73 and a 12-month high of $3.60.

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

Incannex Healthcare Company Profile

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.