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

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

NeuroBo Pharmaceuticals Price Performance

Shares of NeuroBo Pharmaceuticals stock traded down $0.17 on Monday, hitting $3.44. The company’s stock 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 firm has a fifty day moving average price of $3.94 and a 200-day moving average price of $4.08.

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

Insider Activity at NeuroBo Pharmaceuticals

In other news, major shareholder St Co. Ltd Dong-A bought 2,544,530 shares of the firm’s stock in a transaction that occurred on Sunday, June 23rd. The stock was purchased at an average cost of $3.13 per share, for a total transaction of $7,964,378.90. Following the purchase, the insider now directly owns 5,348,229 shares in the company, valued at approximately $16,739,956.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On NeuroBo Pharmaceuticals

A hedge fund recently bought a new stake in NeuroBo Pharmaceuticals stock. Affinity Asset Advisors LLC bought a new stake in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 89,222 shares of the company’s stock, valued at approximately $432,000. Affinity Asset Advisors LLC owned approximately 1.82% of NeuroBo Pharmaceuticals at the end of the most recent reporting period. 1.37% of the stock is 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.