Incannex Healthcare (NASDAQ:IXHL) Shares 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 traded hands during mid-day 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 firm has a 50 day moving average of $3.77 and a two-hundred day moving average of $3.17.

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

Institutional Investors Weigh In On Incannex Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of IXHL. UBS Group AG bought a new position in shares of Incannex Healthcare during the 1st quarter worth approximately $25,000. Jane Street Group LLC lifted its stake in shares of Incannex Healthcare by 38.8% during the fourth quarter. Jane Street Group LLC now owns 25,610 shares of the company’s stock valued at $72,000 after acquiring an additional 7,161 shares during the period. Citadel Advisors LLC bought a new position in Incannex Healthcare in the fourth quarter valued at about $64,000. AdvisorShares Investments LLC bought a new position in Incannex Healthcare in the fourth quarter valued at about $180,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Incannex Healthcare in the fourth quarter worth about $379,000. Institutional investors own 0.43% of the company’s stock.

About Incannex Healthcare

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.