Market cap of Incannex Healthcare Inc [IXHL] reaches 99.50M – now what?

Incannex Healthcare Inc [NASDAQ: IXHL] jumped around 2.05 points on Wednesday, while shares priced at $6.27 at the close of the session, up 48.58%. The company report on February 28, 2024 at 7:30 AM that Incannex Announces Positive Topline Results from Phase 2 Psi-GAD1 Clinical Trial of Psilocybin in Generalised Anxiety Disorder.

Appendix: Comparison of PsiGAD Treatments to Existing Registered Treatments for Anxiety.

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Compared to the average trading volume of 99.48K shares, IXHL reached a trading volume of 14191034 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Incannex Healthcare Inc [IXHL]?

The Average True Range (ATR) for Incannex Healthcare Inc is set at 1.02 The Price to Book ratio for the last quarter was 5.27, with the Price to Cash per share for the same quarter was set at 0.92.

How has IXHL stock performed recently?

Incannex Healthcare Inc [IXHL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.48. With this latest performance, IXHL shares gained by 70.84% in over the last four-week period, additionally plugging by 2.45% over the last 6 months – not to mention a drop of -38.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IXHL stock in for the last two-week period is set at 63.41, with the RSI for the last a single of trading hit 65.44, and the three-weeks RSI is set at 61.85 for Incannex Healthcare Inc [IXHL]. The present Moving Average for the last 50 days of trading for this stock 4.15, while it was recorded at 5.30 for the last single week of trading, and 2.41 for the last 200 days.

Incannex Healthcare Inc [IXHL]: Deeper insight into the fundamentals

Incannex Healthcare Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.70 and a Current Ratio set at 6.70.

Insider trade positions for Incannex Healthcare Inc [IXHL]

The top three institutional holders of IXHL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IXHL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IXHL stock with ownership which is approximately 5.8325%.