NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Sees Large Decline in Short Interest

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 28,100 shares, a decrease of 35.6% from the August 15th total of 43,600 shares. Based on an average trading volume of 53,300 shares, the short-interest ratio is currently 0.5 days. Approximately 1.0% of the company’s stock are short sold.

NeuroBo Pharmaceuticals Stock Performance

Shares of NeuroBo Pharmaceuticals stock traded down $0.17 on Monday, hitting $3.44. The company had a trading volume of 69,775 shares, compared to its average volume of 501,007. NeuroBo Pharmaceuticals has a 1 year low of $2.90 and a 1 year high of $6.75. The stock has a 50 day moving average of $3.97 and a 200-day moving average of $4.10.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.38) by ($0.47). Equities analysts anticipate that NeuroBo Pharmaceuticals will post -4.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder St Co. Ltd Dong-A purchased 2,544,530 shares of the business’s stock in a transaction on Sunday, June 23rd. The shares were acquired at an average price of $3.13 per share, for a total transaction of $7,964,378.90. Following the completion of the acquisition, the insider now owns 5,348,229 shares in the company, valued at $16,739,956.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of NeuroBo Pharmaceuticals

A hedge fund recently bought a new stake in NeuroBo Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in shares of NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 696,829 shares of the company’s stock, valued at approximately $3,373,000. Armistice Capital LLC owned about 14.20% of NeuroBo Pharmaceuticals at the end of the most recent quarter. 1.37% of the stock is currently owned by hedge funds and other institutional investors.

About NeuroBo Pharmaceuticals

NeuroBo Pharmaceuticals, Inc, a clinical-stage biotechnology company focuses on developing and commercializing novel pharmaceuticals to treat cardiometabolic diseases. It develops DA-1241, a novel G-Protein-Coupled Receptor 119 agonist with development optionality as a standalone and/or combination therapy that is in Phase 2a clinical trial for metabolic dysfunction-associated steatohepatitis (MASH), and has completed Phase 1 clinical trial for the treatment of type 2 diabetes mellitus (T2DM); and DA-1726, a novel oxyntomodulin analogue functioning as a GLP-1 receptor and glucagon receptor dual agonist, which is in preclinical development for the treatment of obesity.