During December, the number of shares available for short sale in Incannex Healthcare Limited (NASDAQ: IXHL) decreased by a sizeable margin. Compared to the 13,200 shares that had been borrowed as of the 30th of November, the number of shares that had been borrowed as of the 15th of December was 11,600, which is a decrease of 12.1%. As a result, the current days-to-cover ratio is 1.3 days, calculated based on an average daily trading volume of 8,800 shares. This ratio was arrived at after taking into account historical data.
Institutional investors and hedge funds have been active participants in recent transactions involving the buying and selling IXHL shares. Jane Street Group LLC spent $378,000 during the first three months of 2018 to acquire a new ownership stake in Incannex Healthcare. In addition, approximately 2500 new shares of Incannex Healthcare worth $25,000 were added to UBS Group AG’s investment portfolio during the year’s first three months. Last but not least, during the third quarter, FNY Investment Advisers LLC made a brand new investment in Incannex Healthcare. The value of this investment was close to $69,000. To the tune of 0.07% of the company’s stock, institutional investors are the owners of the company’s shares.
NASDAQ: IXHL was first available for trading on Monday with an opening price of $2.80. Incannex Healthcare hit a low of $2.60 during the past 52 weeks, while the company reached a high of $90.00 during that same period. The moving average for the company over the previous 50 days is $3.64, and the moving average for the previous 200 days is $4.11.
Incannex Healthcare Limited is an Australian company specializing in the research, development, and sale of pharmacological treatments that use psychedelics and cannabis. The company is headquartered in Sydney. There is no difficulty obtaining any of these three substances: tetrahydrocannabinol APIRx-1801, cannabigerol APIRx-1802, or ultrapure CBD APIRx-1803. In addition, the organization produces goods like IHL-42X, which has completed a Phase IIa clinical trial for obstructive sleep apnea; Psi-GAD, which is currently participating in a Phase IIa clinical trial for generalized anxiety disorder; MedChew Dronabinol, which has completed a Phase Ia clinical trial for nausea and vomiting associated with chemotherapy; and CanChew Plus, which has completed a Phase IIa clinical trial for