Insider Buying: Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Director Acquires 10,101,010 Shares of Stock

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Director Aron R. English bought 10,101,010 shares of the stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $0.99 per share, with a total value of $9,999,999.90. Following the completion of the acquisition, the director now directly owns 15,467,300 shares of the company’s stock, valued at approximately $15,312,627. The trade was a 188.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Anebulo Pharmaceuticals Stock Performance

Shares of NASDAQ ANEB remained flat at $1.62 during mid-day trading on Thursday. 23,338 shares of the company traded hands, compared to its average volume of 10,430. The company has a market cap of $42.01 million, a price-to-earnings ratio of -5.40 and a beta of -1.09. Anebulo Pharmaceuticals, Inc. has a twelve month low of $0.80 and a twelve month high of $3.30. The firm’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.94.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last announced its quarterly earnings results on Wednesday, September 25th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.08. Analysts anticipate that Anebulo Pharmaceuticals, Inc. will post -0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Benchmark restated a “speculative buy” rating and issued a $8.00 price objective on shares of Anebulo Pharmaceuticals in a report on Tuesday, November 19th.

Anebulo Pharmaceuticals Company Profile

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.