Anebulo Pharmaceuticals (NASDAQ:ANEB) Given Hold Rating at Maxim Group

Anebulo Pharmaceuticals (NASDAQ:ANEB - Get Free Report)'s stock had its "hold" rating reiterated by research analysts at Maxim Group in a note issued to investors on Wednesday,Benzinga reports.

Anebulo Pharmaceuticals Price Performance

Anebulo Pharmaceuticals stock traded down $0.05 during trading hours on Wednesday, hitting $3.19. 325,309 shares of the stock traded hands, compared to its average volume of 171,650. The firm's 50 day moving average price is $1.47 and its 200-day moving average price is $1.36. The stock has a market capitalization of $131.05 million, a price-to-earnings ratio of -12.27 and a beta of -0.98. Anebulo Pharmaceuticals has a 1 year low of $0.80 and a 1 year high of $3.42.

Anebulo Pharmaceuticals (NASDAQ:ANEB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Research analysts forecast that Anebulo Pharmaceuticals will post -0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ANEB. Goldman Sachs Group Inc. purchased a new position in Anebulo Pharmaceuticals in the first quarter valued at about $62,000. Nantahala Capital Management LLC increased its stake in Anebulo Pharmaceuticals by 494.1% during the fourth quarter. Nantahala Capital Management LLC now owns 3,036,325 shares of the company's stock valued at $5,101,000 after purchasing an additional 2,525,252 shares during the last quarter. Finally, 22NW LP lifted its holdings in Anebulo Pharmaceuticals by 188.2% in the fourth quarter. 22NW LP now owns 15,467,300 shares of the company's stock worth $25,985,000 after acquiring an additional 10,101,010 shares during the last quarter. 28.40% of the stock is currently owned by hedge funds and other institutional investors.

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.