NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Sees Significant Growth in Short Interest

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 33,300 shares, an increase of 18.5% from the August 31st total of 28,100 shares. Based on an average trading volume of 57,300 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NeuroBo Pharmaceuticals stock. Affinity Asset Advisors LLC bought a new position in shares of NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) during the 2nd quarter, according to its most recent disclosure 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 1.82% of NeuroBo Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 1.37% of the company’s stock.

NeuroBo Pharmaceuticals Stock Down 4.5 %

NeuroBo Pharmaceuticals stock traded down $0.15 during trading hours on Monday, hitting $3.17. The company had a trading volume of 269,540 shares, compared to its average volume of 478,073. NeuroBo Pharmaceuticals has a one year low of $2.90 and a one year high of $6.75. The firm has a 50-day moving average of $3.69 and a 200 day moving average of $3.94.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.38) by ($0.47). As a group, analysts expect that NeuroBo Pharmaceuticals will post -4.39 EPS for the current year.

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.