Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Short Interest Down 12.3% in March

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 54,700 shares, a decline of 12.3% from the February 28th total of 62,400 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 42,800 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Investors Weigh In On Anebulo Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings 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 lifted its holdings in Anebulo Pharmaceuticals by 188.2% during the 4th quarter. 22NW LP now owns 15,467,300 shares of the company’s stock worth $25,985,000 after buying an additional 10,101,010 shares during the last quarter. Finally, Nantahala Capital Management LLC boosted its position in shares of 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 acquiring an additional 2,525,252 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Anebulo Pharmaceuticals Stock Performance

NASDAQ ANEB opened at $1.15 on Thursday. The firm has a market cap of $47.25 million, a price-to-earnings ratio of -4.11 and a beta of -1.09. The firm has a 50 day simple moving average of $1.42 and a 200-day simple moving average of $1.60. Anebulo Pharmaceuticals has a one year low of $0.80 and a one year high of $3.30.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last posted its quarterly earnings results on Friday, February 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. Equities analysts predict that Anebulo Pharmaceuticals will post -0.52 EPS 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.