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

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) was the target of a large 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 days-to-cover ratio is presently 2.4 days. Approximately 0.7% of the company’s stock are sold short.

Anebulo Pharmaceuticals Price Performance

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

Insider Activity at Anebulo Pharmaceuticals

In other news, Director Aron R. English bought 10,101,010 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $0.99 per share, for a total transaction of $9,999,999.90. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 85.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Benchmark reiterated a “speculative buy” rating and set a $8.00 price objective on shares of Anebulo Pharmaceuticals in a research note on Tuesday, November 19th.

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.