NeuroBo Pharmaceuticals (NASDAQ:NRBO) Trading Up 1.5% – Should You Buy?

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO)’s share price traded up 1.5% on Monday . The stock traded as high as $1.73 and last traded at $1.67. 18,183 shares traded hands during trading, a decline of 95% from the average session volume of 397,830 shares. The stock had previously closed at $1.65.

NeuroBo Pharmaceuticals Trading Down 1.4 %

The stock has a 50-day moving average of $1.93 and a 200 day moving average of $2.64.

Hedge Funds Weigh In On NeuroBo Pharmaceuticals

A hedge fund recently bought a new stake in NeuroBo Pharmaceuticals stock. Ferguson Wellman Capital Management Inc. acquired a new position in shares of NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,670 shares of the company’s stock, valued at approximately $50,000. Ferguson Wellman Capital Management Inc. owned 0.19% of NeuroBo Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds 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.