Short Interest in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Increases By 29.7%

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEBGet Rating) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 29,700 shares, a growth of 29.7% from the October 15th total of 22,900 shares. Based on an average daily volume of 9,500 shares, the short-interest ratio is currently 3.1 days. Approximately 1.3% of the company’s shares are sold short.

Anebulo Pharmaceuticals Stock Performance

Shares of NASDAQ ANEB opened at $2.74 on Friday. Anebulo Pharmaceuticals has a fifty-two week low of $1.77 and a fifty-two week high of $7.89. The stock has a market cap of $70.23 million, a price-to-earnings ratio of -8.06 and a beta of -1.51. The firm’s 50-day simple moving average is $2.86 and its 200 day simple moving average is $3.35.

Anebulo Pharmaceuticals (NASDAQ:ANEBGet Rating) last announced its quarterly earnings results on Friday, September 9th. The company reported ($0.10) earnings per share for the quarter. On average, sell-side analysts predict that Anebulo Pharmaceuticals will post -0.51 EPS for the current year.

Institutional Investors Weigh In On Anebulo Pharmaceuticals

A hedge fund recently bought a new stake in Anebulo Pharmaceuticals stock. Nantahala Capital Management LLC acquired a new stake in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEBGet Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 511,073 shares of the company’s stock, valued at approximately $1,431,000. Nantahala Capital Management LLC owned about 1.99% of Anebulo Pharmaceuticals as of its most recent filing with the SEC. Institutional investors own 20.04% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH began coverage on shares of Anebulo Pharmaceuticals in a research report on Wednesday, July 27th. They set a “buy” rating and a $6.00 price objective on the stock.

About Anebulo Pharmaceuticals

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Anebulo Pharmaceuticals, Inc, a clinical-stage biotechnology company, engages in developing and commercializing treatments for people suffering from acute cannabinoid intoxication and substance addiction. Its lead product candidate is ANEB-001, a small molecule cannabinoid receptor antagonist to treat cannabinoid intoxication and overdose.

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