Short Interest in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Drops By 6.9%

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 10,800 shares, a drop of 6.9% from the October 15th total of 11,600 shares. Based on an average daily trading volume, of 8,500 shares, the short-interest ratio is currently 1.3 days. Currently, 0.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Benchmark restated a “speculative buy” rating and issued a $8.00 target price on shares of Anebulo Pharmaceuticals in a research note on Tuesday.

Anebulo Pharmaceuticals Price Performance

Shares of NASDAQ ANEB opened at $1.52 on Wednesday. The stock has a market capitalization of $39.42 million, a price-to-earnings ratio of -5.07 and a beta of -1.00. The firm’s 50 day simple moving average is $1.89 and its 200-day simple moving average is $2.10. Anebulo Pharmaceuticals has a 12 month low of $1.46 and a 12 month high of $3.30.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last announced its quarterly earnings results on Wednesday, September 25th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. Analysts anticipate that Anebulo Pharmaceuticals will post -0.52 earnings per share for the current fiscal year.

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.