Anebulo Pharmaceuticals (NASDAQ:ANEB) Shares Down 1.9% – Time to Sell?

Shares of Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) fell 1.9% during mid-day trading on Thursday . The stock traded as low as $0.94 and last traded at $1.05. 1,627 shares changed hands during trading, a decline of 98% from the average session volume of 87,079 shares. The stock had previously closed at $1.07.

Anebulo Pharmaceuticals Stock Down 13.0%

The business’s 50 day moving average is $0.71 and its 200 day moving average is $1.69. The company has a market cap of $37.27 million, a P/E ratio of -4.81 and a beta of -0.70.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last announced its quarterly earnings results on Friday, February 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. As a group, equities research analysts forecast that Anebulo Pharmaceuticals, Inc. will post -0.52 EPS for the current year.

Hedge Funds Weigh In On Anebulo Pharmaceuticals

A hedge fund recently bought a new stake in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. purchased a new stake in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned approximately 0.12% of Anebulo Pharmaceuticals as of its most recent filing with the SEC. 28.40% of the stock is owned by institutional investors and hedge funds.

About Anebulo Pharmaceuticals

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.