NeuroBo Pharmaceuticals (NASDAQ:NRBO) Shares Down 3.6% – Here’s Why

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO)’s stock price dropped 3.6% on Monday . The stock traded as low as $2.92 and last traded at $2.92. Approximately 15,669 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 446,519 shares. The stock had previously closed at $3.03.

NeuroBo Pharmaceuticals Trading Down 1.7 %

The business’s 50 day moving average price is $3.26 and its 200-day moving average price is $3.76.

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

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 stake in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) in the second quarter, according to the company in its most recent filing with the SEC. The firm 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 SEC filing. 1.37% of the stock is owned by institutional investors and hedge funds.

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.