Incannex Healthcare (NASDAQ:IXHL) Stock Price Down 1.7%

Incannex Healthcare Inc. (NASDAQ:IXHL)’s share price dropped 1.7% during trading on Thursday . The company traded as low as $2.38 and last traded at $2.38. Approximately 9,511 shares changed hands during trading, a decline of 96% from the average daily volume of 271,512 shares. The stock had previously closed at $2.42.

Incannex Healthcare Stock Performance

The business has a 50-day moving average of $3.76 and a 200 day moving average of $3.18.

Incannex Healthcare (NASDAQ:IXHL) last issued its earnings results on Wednesday, February 14th. The company reported ($0.33) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Incannex Healthcare

A number of institutional investors have recently made changes to their positions in the company. UBS Group AG bought a new position in shares of Incannex Healthcare in the first quarter worth $25,000. Citadel Advisors LLC acquired a new stake in Incannex Healthcare during the 4th quarter worth about $64,000. Jane Street Group LLC raised its stake in shares of Incannex Healthcare by 38.8% during the 4th quarter. Jane Street Group LLC now owns 25,610 shares of the company’s stock worth $72,000 after purchasing an additional 7,161 shares in the last quarter. AdvisorShares Investments LLC bought a new position in shares of Incannex Healthcare in the 4th quarter valued at approximately $180,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Incannex Healthcare in the 4th quarter valued at approximately $379,000. 0.43% of the stock is currently owned by institutional investors.

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.