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

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) saw a large decrease in short interest during 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. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 42,400 shares, the short-interest ratio is currently 0.5 days.

NeuroBo Pharmaceuticals Price Performance

Shares of NASDAQ:NRBO traded down $0.17 during midday trading on Friday, hitting $2.22. The company had a trading volume of 40,833 shares, compared to its average volume of 34,167. NeuroBo Pharmaceuticals has a twelve month low of $2.08 and a twelve month high of $6.75. The business’s 50-day simple moving average is $2.94 and its 200-day simple moving average is $3.67.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last issued its 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 expect that NeuroBo Pharmaceuticals will post -4.24 EPS for the current fiscal year.

Hedge Funds Weigh In On NeuroBo Pharmaceuticals

A number of institutional investors have recently bought and sold shares of NRBO. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of NeuroBo Pharmaceuticals during the 3rd quarter worth approximately $50,000. Affinity Asset Advisors LLC purchased a new stake in shares of NeuroBo Pharmaceuticals in the 2nd quarter valued at approximately $432,000. Finally, Armistice Capital LLC acquired a new position in shares of NeuroBo Pharmaceuticals in the 2nd quarter worth approximately $3,373,000. 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.