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

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 61,400 shares, a growth of 2,174.1% from the December 15th total of 2,700 shares. Based on an average daily volume of 26,100 shares, the short-interest ratio is currently 2.4 days. Currently, 0.7% of the company’s shares are sold short.

Insider Buying and Selling

In other news, Director Aron R. English acquired 10,101,010 shares of Anebulo Pharmaceuticals stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $0.99 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 85.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Anebulo Pharmaceuticals Stock Performance

Shares of ANEB remained flat at $1.46 during mid-day trading on Monday. The company’s stock had a trading volume of 1,516 shares, compared to its average volume of 22,848. The company has a market capitalization of $37.86 million, a price-to-earnings ratio of -4.87 and a beta of -1.14. The stock’s 50 day moving average price is $1.52 and its two-hundred day moving average price is $1.88. Anebulo Pharmaceuticals has a 52-week low of $0.80 and a 52-week high of $3.30.

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.