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

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 68,730 shares, a drop of 41.3% from the December 15th total of 117,022 shares. Based on an average daily trading volume, of 196,189 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.9% of the company’s stock are short sold. Approximately 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 196,189 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Anebulo Pharmaceuticals in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Anebulo Pharmaceuticals has a consensus rating of “Reduce” and a consensus price target of $3.00.

Anebulo Pharmaceuticals Stock Performance

Shares of ANEB opened at $1.04 on Friday. The stock has a 50-day moving average of $1.87 and a two-hundred day moving average of $2.21. The stock has a market cap of $42.73 million, a P/E ratio of -4.52 and a beta of -0.81. Anebulo Pharmaceuticals has a one year low of $0.90 and a one year high of $3.42.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. Analysts predict that Anebulo Pharmaceuticals will post -0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. purchased a new stake in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned about 0.12% of Anebulo Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 28.40% of the company’s stock.

About Anebulo Pharmaceuticals

Anebulo Pharmaceuticals, Inc (NASDAQ:ANEB) is a clinical?stage biopharmaceutical company focused on the development of intranasal therapies for the acute treatment of migraine. Its lead product candidate, ANEB-001, is an intranasal formulation of dihydroergotamine mesylate designed to provide rapid relief from migraine attacks while reducing common gastrointestinal side effects associated with oral treatments.

The company is advancing ANEB-001 through pivotal trials in the United States and plans to submit a new drug application to the U.S.