Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Sees Large Increase in Short Interest

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 61,400 shares, an increase of 2,174.1% from the December 31st total of 2,700 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 26,100 shares, the short-interest ratio is currently 2.4 days.

Insider Activity at Anebulo Pharmaceuticals

In related news, Director Aron R. English bought 10,101,010 shares of Anebulo Pharmaceuticals stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $0.99 per share, for a total transaction of $9,999,999.90. Following the completion of the purchase, the director now owns 15,467,300 shares in the company, valued at approximately $15,312,627. This represents a 188.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 85.90% of the stock is owned by corporate insiders.

Anebulo Pharmaceuticals Stock Up 1.2 %

Shares of ANEB opened at $1.56 on Thursday. The stock has a market cap of $40.42 million, a price-to-earnings ratio of -5.20 and a beta of -1.14. Anebulo Pharmaceuticals has a 12 month low of $0.80 and a 12 month high of $3.30. The company has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.80.

Analysts Set New Price Targets

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

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.