Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Sees Significant Drop in Short Interest

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 2,700 shares, a decline of 57.8% from the November 30th total of 6,400 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 20,000 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a “speculative buy” rating and issued a $8.00 target price on shares of Anebulo Pharmaceuticals in a research note on Tuesday, November 19th.

Insider Buying and Selling

In related news, Director Aron R. English purchased 10,101,010 shares of Anebulo Pharmaceuticals stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $0.99 per share, for a total transaction of $9,999,999.90. Following the transaction, the director now directly owns 15,467,300 shares in the company, valued at $15,312,627. The trade was a 188.23 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 85.90% of the stock is currently owned by corporate insiders.

Anebulo Pharmaceuticals Stock Performance

Shares of NASDAQ ANEB traded up $0.08 during midday trading on Friday, hitting $1.70. 88,982 shares of the company traded hands, compared to its average volume of 10,907. Anebulo Pharmaceuticals has a 12-month low of $0.80 and a 12-month high of $3.30. The firm has a market cap of $44.09 million, a P/E ratio of -5.67 and a beta of -1.09. The stock has a 50-day moving average price of $1.57 and a 200 day moving average price of $1.93.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last posted its earnings results on Wednesday, September 25th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. As a group, equities analysts expect that Anebulo Pharmaceuticals will post -0.52 earnings per share for the current year.

About Anebulo Pharmaceuticals

Anebulo Pharmaceuticals, Inc, a clinical-stage biotechnology company, engages in developing solutions for people suffering from acute cannabinoid intoxication (ACI) and substance addiction. The company's lead product candidate is ANEB-001, a small molecule cannabinoid receptor antagonist, which is in a Phase II clinical trial to address the unmet medical need for a specific antidote for ACI.