Incannex Healthcare (NASDAQ:IXHL) Trading 1.3% Higher

Incannex Healthcare Limited (NASDAQ:IXHLGet Rating) rose 1.3% during trading on Thursday . The stock traded as high as $3.85 and last traded at $3.76. Approximately 4,550 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 142,249 shares. The stock had previously closed at $3.71.

Incannex Healthcare Stock Up 30.1 %

The company has a 50 day moving average price of $4.64.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Incannex Healthcare stock. UBS Group AG purchased a new stake in shares of Incannex Healthcare Limited (NASDAQ:IXHLGet Rating) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,757 shares of the company’s stock, valued at approximately $25,000.

About Incannex Healthcare

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Incannex Healthcare Limited engages in the research, development, and sale of medicinal cannabinoid products in Australia. It offers pharmaceutical grade cannabinoid products under the Incannex brand name. The company's products include IHL-42X, which is in Phase II clinical trials for obstructive sleep apnea; IHL-216A for traumatic brain injury; and IHL-675A, a combination of hydroxychloroquine and cannabidiol for the prevention and treatment of inflammatory lung conditions, such as acute respiratory distress syndrome, chronic obstructive pulmonary disease, asthma, and bronchitis, as well as rheumatoid arthritis and inflammatory bowel diseases.

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