Short Interest in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Drops By 25.6%

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 24,100 shares, a decline of 25.6% from the September 30th total of 32,400 shares. Based on an average daily volume of 42,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.8% of the company’s shares are short sold.

NeuroBo Pharmaceuticals Stock Down 0.7 %

Shares of NeuroBo Pharmaceuticals stock traded down $0.02 on Friday, hitting $2.78. The stock had a trading volume of 30,316 shares, compared to its average volume of 58,936. NeuroBo Pharmaceuticals has a one year low of $2.08 and a one year high of $6.75. The stock’s 50-day simple moving average is $3.22 and its two-hundred day simple moving average is $3.75.

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

Institutional Trading of NeuroBo Pharmaceuticals

An institutional investor recently bought a new position in NeuroBo Pharmaceuticals stock. Affinity Asset Advisors LLC purchased a new position in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,222 shares of the company’s stock, valued at approximately $432,000. Affinity Asset Advisors LLC owned 1.82% of NeuroBo Pharmaceuticals as of its most recent SEC filing. Institutional investors own 1.37% of the company’s stock.

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.