Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Sees Large Increase in Short Interest

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 61,400 shares, a growth of 2,174.1% from the December 31st total of 2,700 shares. Based on an average trading volume of 26,100 shares, the short-interest ratio is presently 2.4 days. Approximately 0.7% of the shares of the stock are short sold.

Anebulo Pharmaceuticals Price Performance

Shares of Anebulo Pharmaceuticals stock opened at $1.56 on Thursday. The firm has a market cap of $40.42 million, a P/E ratio of -5.20 and a beta of -1.14. The firm has a 50 day simple moving average of $1.50 and a 200 day simple moving average of $1.80. Anebulo Pharmaceuticals has a fifty-two week low of $0.80 and a fifty-two week high of $3.30.

Insider Activity

In other news, Director Aron R. English bought 10,101,010 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $0.99 per share, for a total transaction of $9,999,999.90. Following the completion of the purchase, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 85.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Benchmark reiterated a “speculative buy” rating and issued a $8.00 target price on shares of Anebulo Pharmaceuticals in a research note 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.