Anebulo Pharmaceuticals (NASDAQ:ANEB) Stock Price Down 1.3% – Here’s What Happened

Shares of Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) traded down 1.3% during mid-day trading on Tuesday . The stock traded as low as $1.48 and last traded at $1.50. 2,787 shares were traded during trading, a decline of 85% from the average session volume of 18,206 shares. The stock had previously closed at $1.52.

Wall Street Analyst Weigh In

Separately, Maxim Group reduced their price objective on shares of Anebulo Pharmaceuticals from $6.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, May 15th.

Anebulo Pharmaceuticals Stock Performance

The business has a 50 day moving average of $1.15 and a two-hundred day moving average of $1.31. The stock has a market capitalization of $61.63 million, a PE ratio of -5.77 and a beta of -1.15.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last announced its earnings results on Tuesday, May 13th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. On average, equities analysts expect that Anebulo Pharmaceuticals, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Anebulo Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. King Luther Capital Management Corp acquired a new position in shares of Anebulo Pharmaceuticals during the fourth quarter worth $100,000. 22NW LP boosted its position in shares of Anebulo Pharmaceuticals by 188.2% in the 4th quarter. 22NW LP now owns 15,467,300 shares of the company’s stock worth $25,985,000 after purchasing an additional 10,101,010 shares in the last quarter. Nantahala Capital Management LLC grew its stake in Anebulo Pharmaceuticals by 494.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,036,325 shares of the company’s stock worth $5,101,000 after buying an additional 2,525,252 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Anebulo Pharmaceuticals during the 1st quarter worth $62,000. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Anebulo Pharmaceuticals Company Profile

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.