Anebulo Pharmaceuticals (NASDAQ:ANEB) Trading Down 13.6% – Time to Sell?
by Mitch Edgeman · The Markets DailyShares of Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB – Get Free Report) were down 13.6% during mid-day trading on Thursday . The company traded as low as $0.8031 and last traded at $0.8212. Approximately 42,620 shares changed hands during trading, a decline of 31% from the average daily volume of 62,014 shares. The stock had previously closed at $0.9501.
Anebulo Pharmaceuticals Price Performance
The business’s 50-day simple moving average is $1.43 and its two-hundred day simple moving average is $2.13. The stock has a market cap of $20.56 million, a price-to-earnings ratio of -2.18 and a beta of -0.81.
Anebulo Pharmaceuticals (NASDAQ:ANEB – Get Free Report) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Equities research analysts forecast that Anebulo Pharmaceuticals, Inc. will post -0.52 earnings per share for the current year.
Institutional Trading of Anebulo Pharmaceuticals
A hedge fund recently bought a new stake in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. acquired a new stake in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB – Free Report) in the 1st quarter, according to the company in its most recent disclosure 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. Institutional investors and hedge funds own 28.40% of the company’s stock.
Anebulo Pharmaceuticals Company Profile
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.