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

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 61,400 shares, an increase of 2,174.1% from the December 31st total of 2,700 shares. Based on an average daily volume of 26,100 shares, the short-interest ratio is currently 2.4 days. Approximately 0.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Aron R. English bought 10,101,010 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $0.99 per share, with a total value of $9,999,999.90. Following the completion of the purchase, the director now owns 15,467,300 shares in the company, 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 SEC, which can be accessed through this hyperlink. 85.90% of the stock is owned by insiders.

Anebulo Pharmaceuticals Trading Down 2.7 %

Shares of ANEB stock traded down $0.04 on Tuesday, reaching $1.46. 1,027 shares of the company’s stock were exchanged, compared to its average volume of 16,455. Anebulo Pharmaceuticals has a 52 week low of $0.80 and a 52 week high of $3.30. The stock has a market capitalization of $37.86 million, a PE ratio of -4.87 and a beta of -1.14. The company’s fifty day simple moving average is $1.50 and its 200 day simple moving average is $1.81.

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.