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

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Director Aron R. English purchased 10,101,010 shares of Anebulo Pharmaceuticals stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $0.99 per share, for a total transaction of $9,999,999.90. Following the completion of the transaction, the director now directly owns 15,467,300 shares in the company, valued at $15,312,627. This represents a 188.23 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Anebulo Pharmaceuticals Stock Performance

Shares of ANEB remained flat at $1.62 during midday trading on Thursday. 23,338 shares of the stock traded hands, compared to its average volume of 10,430. The stock has a market cap of $42.01 million, a PE ratio of -5.40 and a beta of -1.09. The firm has a 50 day moving average price of $1.58 and a 200 day moving average price of $1.94. Anebulo Pharmaceuticals, Inc. has a one year low of $0.80 and a one year high of $3.30.

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

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “speculative buy” rating and issued 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.