Short Interest in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Declines By 35.6%

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) was the target of a large drop in short interest during the month of 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 daily volume of 53,300 shares, the short-interest ratio is presently 0.5 days. Currently, 1.0% of the company’s shares are short sold.

Insiders Place Their Bets

In related news, major shareholder St Co. Ltd Dong-A purchased 2,544,530 shares of the firm’s stock in a transaction dated Sunday, June 23rd. The stock was bought at an average price of $3.13 per share, with a total value of $7,964,378.90. Following the completion of the purchase, the insider now owns 5,348,229 shares in the company, valued at approximately $16,739,956.77. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On NeuroBo Pharmaceuticals

An institutional investor recently bought a new position in NeuroBo Pharmaceuticals stock. Affinity Asset Advisors LLC purchased a new position in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,222 shares of the company’s stock, valued at approximately $432,000. Affinity Asset Advisors LLC owned approximately 1.82% of NeuroBo Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 1.37% of the company’s stock.

NeuroBo Pharmaceuticals Trading Down 4.7 %

Shares of NRBO stock traded down $0.17 on Monday, hitting $3.44. The company had a trading volume of 69,775 shares, compared to its average volume of 501,007. The stock’s 50-day moving average is $3.97 and its two-hundred day moving average is $4.10. NeuroBo Pharmaceuticals has a twelve month low of $2.90 and a twelve month high of $6.75.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last announced its earnings results on Wednesday, August 14th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.38) by ($0.47). On average, equities research analysts forecast that NeuroBo Pharmaceuticals will post -4.39 earnings per share for the current year.

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.