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

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 196,700 shares, a decline of 51.3% from the September 15th total of 404,300 shares. Based on an average daily volume of 419,000 shares, the short-interest ratio is currently 0.5 days. Approximately 0.8% of the shares of the company are sold short. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 419,000 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analyst Weigh In

Several research firms have issued reports on ANEB. Maxim Group cut Anebulo Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anebulo Pharmaceuticals in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Anebulo Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. purchased a new position in shares of Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned 0.12% of Anebulo Pharmaceuticals as of its most recent SEC filing. 28.40% of the stock is currently owned by institutional investors.

Anebulo Pharmaceuticals Price Performance

Shares of NASDAQ:ANEB opened at $2.69 on Tuesday. The business’s 50 day simple moving average is $2.44 and its 200-day simple moving average is $1.82. The firm has a market capitalization of $110.52 million, a price-to-earnings ratio of -10.35 and a beta of -0.89. Anebulo Pharmaceuticals has a 12 month low of $0.80 and a 12 month high of $3.42.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last announced its earnings results on Monday, September 29th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). On average, equities analysts anticipate 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.