Anebulo Pharmaceuticals (NASDAQ:ANEB) Stock Price Down 13.6% – What’s Next?

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB)’s share price was down 13.6% during trading on Thursday . The company traded as low as $0.8031 and last traded at $0.8212. Approximately 42,620 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 62,014 shares. The stock had previously closed at $0.9501.

Anebulo Pharmaceuticals Trading Down 13.6%

The stock’s 50 day moving average price is $1.46 and its two-hundred day moving average price is $2.14. The firm has a market capitalization of $33.73 million, a price-to-earnings ratio of -3.57 and a beta of -0.81.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. On average, sell-side analysts forecast that Anebulo Pharmaceuticals, Inc. will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of Anebulo Pharmaceuticals

A hedge fund recently bought a new stake in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. acquired a new position in shares of Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned about 0.12% of Anebulo Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 28.40% of the company’s stock.

About Anebulo Pharmaceuticals

Anebulo Pharmaceuticals, Inc (NASDAQ:ANEB) is a clinical‐stage biopharmaceutical company focused on the development of intranasal therapies for the acute treatment of migraine. Its lead product candidate, ANEB-001, is an intranasal formulation of dihydroergotamine mesylate designed to provide rapid relief from migraine attacks while reducing common gastrointestinal side effects associated with oral treatments.

The company is advancing ANEB-001 through pivotal trials in the United States and plans to submit a new drug application to the U.S.