Anebulo Pharmaceuticals (NASDAQ:ANEB) Trading 21.7% Higher – Still a Buy?

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB)’s stock price traded up 21.7% during mid-day trading on Friday . The company traded as high as $0.4747 and last traded at $0.4747. 493 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 44,792 shares. The stock had previously closed at $0.3901.

Anebulo Pharmaceuticals Stock Performance

The business’s 50 day moving average is $0.48 and its 200-day moving average is $0.92. The firm has a market capitalization of $19.36 million, a price-to-earnings ratio of -2.50 and a beta of -1.88.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. bought a new stake in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) during the first quarter, according to its most recent filing with the SEC. The firm bought 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned about 0.12% of Anebulo Pharmaceuticals at the end of the most recent quarter. 28.40% of the stock is owned by institutional investors.

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.