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

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

Anebulo Pharmaceuticals Stock Performance

The stock has a market capitalization of $33.73 million, a price-to-earnings ratio of -3.57 and a beta of -0.81. The business has a fifty day simple moving average of $1.46 and a 200 day simple moving average of $2.14.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last announced its earnings results on Thursday, November 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Inflows and Outflows

An institutional investor recently bought a new position in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. purchased a new stake in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned approximately 0.12% of Anebulo Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds 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.