NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Short Interest Update

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) was the target of a large 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. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 53,300 shares, the days-to-cover ratio is currently 0.5 days.

NeuroBo Pharmaceuticals Price Performance

NeuroBo Pharmaceuticals stock traded down $0.17 during midday trading on Monday, hitting $3.44. 69,775 shares of the stock were exchanged, compared to its average volume of 501,007. The stock’s 50-day simple moving average is $3.94 and its 200 day simple moving average is $4.08. NeuroBo Pharmaceuticals has a fifty-two week low of $2.90 and a fifty-two week high of $6.75.

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). Sell-side analysts anticipate that NeuroBo Pharmaceuticals will post -4.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder St Co. Ltd Dong-A acquired 2,544,530 shares of NeuroBo Pharmaceuticals stock in a transaction that occurred on Sunday, June 23rd. The shares were purchased at an average price of $3.13 per share, for a total transaction of $7,964,378.90. Following the completion of the transaction, the insider now owns 5,348,229 shares in the company, valued at approximately $16,739,956.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On NeuroBo Pharmaceuticals

A hedge fund recently bought a new stake in NeuroBo Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 696,829 shares of the company’s stock, valued at approximately $3,373,000. Armistice Capital LLC owned 14.20% of NeuroBo Pharmaceuticals as of its most recent filing with the SEC. 1.37% of the stock is owned by hedge funds and other institutional investors.

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.