Incannex Healthcare (NASDAQ:IXHL) Stock Price Down 19% – Here’s What Happened

Posted by ABMN Staff on Apr 10th, 2025

Incannex Healthcare Inc. (NASDAQ:IXHL – Get Free Report)’s share price dropped 19% during trading on Wednesday . The company traded as low as $0.62 and last traded at $0.68. Approximately 295,024 shares traded hands during mid-day trading, an increase of 380% from the average daily volume of 61,476 shares. The stock had previously closed at $0.84.

Incannex Healthcare Stock Performance

The stock has a market cap of $12.14 million, a P/E ratio of -0.49 and a beta of 7.54. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.65 and a current ratio of 1.80. The firm’s 50 day moving average is $1.17 and its 200 day moving average is $1.68.

Incannex Healthcare (NASDAQ:IXHL – Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The company reported ($0.33) earnings per share (EPS) for the quarter. The firm had revenue of $10 billion for the quarter.

Institutional Investors Weigh In On Incannex Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Incannex Healthcare during the third quarter worth $73,000. AdvisorShares Investments LLC raised its position in shares of Incannex Healthcare by 30.3% in the fourth quarter. AdvisorShares Investments LLC now owns 165,495 shares of the company’s stock worth $351,000 after acquiring an additional 38,505 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Incannex Healthcare during the 4th quarter worth about $100,000. 0.43% of the stock is owned by institutional investors and hedge funds.

About Incannex Healthcare

(Get Free Report)

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.