Incannex Healthcare Inc. (NASDAQ:IXHL) Short Interest Down 32.9% in June

Incannex Healthcare Inc. (NASDAQ:IXHL) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 22,600 shares, a drop of 32.9% from the May 31st total of 33,700 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 28,200 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Trading of Incannex Healthcare

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Incannex Healthcare in the 4th quarter valued at about $379,000. AdvisorShares Investments LLC acquired a new position in shares of Incannex Healthcare in the fourth quarter valued at approximately $180,000. Tidal Investments LLC purchased a new position in shares of Incannex Healthcare during the first quarter valued at approximately $1,520,000. Finally, Virtu Financial LLC purchased a new position in shares of Incannex Healthcare during the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 0.43% of the company’s stock.

Incannex Healthcare Trading Up 10.5 %

Shares of NASDAQ:IXHL traded up $0.28 during midday trading on Friday, hitting $2.94. 16,711 shares of the stock were exchanged, compared to its average volume of 29,351. Incannex Healthcare has a twelve month low of $0.80 and a twelve month high of $12.68. The company has a 50 day moving average price of $2.86 and a 200-day moving average price of $3.52.

Incannex Healthcare (NASDAQ:IXHL) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.38) earnings per share (EPS) for 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.