Short Interest in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Drops By 24.9%

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 65,500 shares, a drop of 24.9% from the January 15th total of 87,200 shares. Based on an average daily trading volume, of 28,700 shares, the short-interest ratio is currently 2.3 days. Currently, 0.3% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Anebulo Pharmaceuticals

In other Anebulo Pharmaceuticals news, Director Aron R. English bought 10,101,010 shares of Anebulo Pharmaceuticals stock in a transaction dated Monday, December 23rd. The stock was 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 in the company, valued at approximately $15,312,627. The trade was a 188.23 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 85.90% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Anebulo Pharmaceuticals stock. King Luther Capital Management Corp acquired a new stake in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 59,662 shares of the company’s stock, valued at approximately $100,000. King Luther Capital Management Corp owned about 0.23% of Anebulo Pharmaceuticals at the end of the most recent quarter. 28.40% of the stock is currently owned by hedge funds and other institutional investors.

Anebulo Pharmaceuticals Stock Performance

NASDAQ ANEB opened at $1.33 on Friday. The company has a market capitalization of $34.49 million, a PE ratio of -4.43 and a beta of -1.15. Anebulo Pharmaceuticals has a 52-week low of $0.80 and a 52-week high of $3.30. The company has a 50-day simple moving average of $1.52 and a 200 day simple moving average of $1.74.

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.