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

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) saw a significant growth in short interest in 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. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

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

Anebulo Pharmaceuticals Stock Down 2.7 %

Shares of NASDAQ ANEB traded down $0.04 during midday trading on Tuesday, hitting $1.46. The stock had a trading volume of 1,027 shares, compared to its average volume of 16,455. The company has a market capitalization of $37.86 million, a PE ratio of -4.87 and a beta of -1.14. The stock has a 50 day simple moving average of $1.50 and a 200-day simple moving average of $1.81. Anebulo Pharmaceuticals has a 1 year low of $0.80 and a 1 year high of $3.30.

Insiders Place Their Bets

In other news, Director Aron R. English bought 10,101,010 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price 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. The trade was a 188.23 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 85.90% of the stock is currently owned by company insiders.

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.