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

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 28,100 shares, a decrease of 35.6% from the August 15th total of 43,600 shares. Based on an average daily volume of 53,300 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.0% of the company’s shares are short sold.

NeuroBo Pharmaceuticals Stock Down 1.1 %

NASDAQ NRBO traded down $0.04 during midday trading on Friday, hitting $3.61. 56,622 shares of the company traded hands, compared to its average volume of 503,444. The company’s 50-day simple moving average is $3.97 and its 200-day simple moving average is $4.11. NeuroBo Pharmaceuticals has a 52 week low of $2.90 and a 52 week high of $6.75.

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

Insider Buying and Selling

In related news, major shareholder St Co. Ltd Dong-A bought 2,544,530 shares of the company’s stock in a transaction on Sunday, June 23rd. The shares were acquired at an average price of $3.13 per share, with a total value of $7,964,378.90. Following the transaction, the insider now owns 5,348,229 shares of the company’s stock, valued at $16,739,956.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

Institutional Trading of NeuroBo Pharmaceuticals

An institutional investor recently bought a new position in NeuroBo Pharmaceuticals stock. Affinity Asset Advisors LLC acquired a new position in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 89,222 shares of the company’s stock, valued at approximately $432,000. Affinity Asset Advisors LLC owned approximately 1.82% of NeuroBo Pharmaceuticals at the end of the most recent reporting period. 1.37% of the stock is currently 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.