Anebulo Pharmaceuticals (NASDAQ:ANEB) Shares Down 4.5% – Here’s Why

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) shares were down 4.5% on Friday . The stock traded as low as $0.3150 and last traded at $0.3150. Approximately 115 shares were traded during trading, a decline of 100% from the average session volume of 31,817 shares. The stock had previously closed at $0.33.

Anebulo Pharmaceuticals Trading Down 4.5%

The business’s fifty day simple moving average is $0.33 and its 200-day simple moving average is $0.47. The firm has a market cap of $12.85 million, a P/E ratio of -1.66 and a beta of -1.82.

Institutional Trading of Anebulo Pharmaceuticals

A hedge fund recently bought a new position in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. purchased a new stake in shares of Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 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 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.