( ) has been the subject of a significant increase in short interests during the month April. On April 30, there were 15,000 short shares, a 105.5% increase from 7,300 shares on April 15. The days-to-cover is 2.2 days based on a daily average trading volume of 6,700 share.
Institutional Trading of Incannex Healthcare
Recently, hedge funds made some changes to their position in the company. Jane Street Group LLC purchased a stake in Incannex Healthcare valued at $378,000 in the first quarter. OLD Mission Capital LLC purchased a stake in Incannex Healthcare during the fourth quarter, valued at about $58,000. UBS Group AG purchased a stake in Incannex Healthcare valued at about $25,000 in the first quarter. The price of remained unchanged at $1.93 in mid-day trading Thursday. Stock traded 2,889 shares versus its normal volume of 6,227. The company has a 50-day moving average of $2.15, and a 200-day moving average of $2.96. Incannex Healthcare's 12-month low is $1.77, and its 12-month high is $8.65.
The company has also developed IHL-42X which has successfully completed a Phase IIa Clinical Trial for Obstructive Sleep Apnea. PsiGAD is currently in a Phase IIa Clinical Trial for Generalized Anxiety Disorder. MedChew Dronabinol has successfully completed a Phase Ia Clinical trial to treat nausea and vomiting during chemotherapy. CanChew Plus has successfully completed a Phase IIa Medical trial.
MarketBeat.com offers a FREE daily email newsletter