Short Interest in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Increases By 878.1%

Key Points

• Short interest in Anebulo Pharmaceuticals surged by 878.1% from July 15th to July 31st, totaling 433,300 shares, which constitutes approximately 1.8% of the total shares.
• Institutional investors have significantly increased their stakes in Anebulo, with Nantahala Capital Management raising its holding by 494.1% and 22NW LP increasing its stake by 188.2% in the last quarter.
• Analysts at Maxim Group downgraded Anebulo Pharmaceuticals' stock rating from "strong-buy" to "hold" as of July 23rd.

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 433,300 shares, agrowthof878.1% from the July 15th total of 44,300 shares. Based on an average daily trading volume, of 370,900 shares, the short-interest ratio is presently 1.2 days. Approximately1.8% of the shares of the company are short sold. Approximately1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 370,900 shares, the short-interest ratio is presently 1.2 days.

Anebulo Pharmaceuticals Price Performance

Shares of NASDAQ:ANEB traded down $0.08 on Tuesday, hitting $2.50. The company's stock had a trading volume of 51,406 shares, compared to its average volume of 169,183. The company has a 50-day simple moving average of $2.01 and a 200 day simple moving average of $1.49. Anebulo Pharmaceuticals has a 1 year low of $0.80 and a 1 year high of $3.42. The company has a market capitalization of $102.70 million, a PE ratio of -9.62 and a beta of -0.88.

Institutional Trading of Anebulo Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. 22NW LP increased its position in shares of Anebulo Pharmaceuticals by 188.2% during the 4th quarter. 22NW LP now owns 15,467,300 shares of the company's stock valued at $25,985,000 after purchasing an additional 10,101,010 shares during the last quarter. Nantahala Capital Management LLC increased 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 valued at $5,101,000 after purchasing an additional 2,525,252 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of Anebulo Pharmaceuticals during the 1st quarter valued at about $62,000. Hedge funds and other institutional investors own 28.40% of the company's stock.

Wall Street Analyst Weigh In

Separately, Maxim Group cut Anebulo Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Anebulo Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $5.50.

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.