NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Short Interest Down 20.3% in October

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 19,200 shares, a decrease of 20.3% from the October 15th total of 24,100 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 42,400 shares, the days-to-cover ratio is presently 0.5 days.

NeuroBo Pharmaceuticals Trading Down 7.1 %

Shares of NRBO stock traded down $0.17 during trading hours on Friday, hitting $2.22. 40,833 shares of the company’s stock were exchanged, compared to its average volume of 34,167. NeuroBo Pharmaceuticals has a fifty-two week low of $2.08 and a fifty-two week high of $6.75. The firm has a 50 day moving average of $2.94 and a two-hundred day moving average of $3.67.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.47). On average, equities research analysts expect that NeuroBo Pharmaceuticals will post -4.24 EPS for the current fiscal year.

Institutional Trading of NeuroBo Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Affinity Asset Advisors LLC purchased a new position in shares of NeuroBo Pharmaceuticals in the second quarter valued at approximately $432,000. Armistice Capital LLC acquired a new position in NeuroBo Pharmaceuticals in the 2nd quarter valued at $3,373,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in NeuroBo Pharmaceuticals in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 1.37% of the company’s stock.

NeuroBo Pharmaceuticals Company Profile

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.