Anebulo Pharmaceuticals (NASDAQ:ANEB) Stock Price Up 21.7% – Time to Buy?

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB)’s stock price was up 21.7% on Friday . The company traded as high as $0.4747 and last traded at $0.4747. Approximately 493 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 44,792 shares. The stock had previously closed at $0.3901.

Anebulo Pharmaceuticals Stock Up 21.7%

The stock has a market cap of $19.36 million, a price-to-earnings ratio of -2.50 and a beta of -1.88. The stock’s 50 day moving average price is $0.48 and its two-hundred day moving average price is $0.92.

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 Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned 0.12% of Anebulo Pharmaceuticals at the end of the most recent reporting period. 28.40% of the stock is currently owned by institutional investors.

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.