NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Short Interest Down 20.3% in October

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 19,200 shares, a drop of 20.3% from the October 15th total of 24,100 shares. Based on an average daily trading volume, of 42,400 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.6% of the shares of the company are sold short.

Hedge Funds Weigh In On NeuroBo Pharmaceuticals

A number of institutional investors have recently bought and sold shares of NRBO. Ferguson Wellman Capital Management Inc. acquired a new position in NeuroBo Pharmaceuticals during the third quarter worth $50,000. Affinity Asset Advisors LLC bought a new stake in NeuroBo Pharmaceuticals during the 2nd quarter worth about $432,000. Finally, Armistice Capital LLC bought a new stake in shares of NeuroBo Pharmaceuticals in the 2nd quarter valued at about $3,373,000. Hedge funds and other institutional investors own 1.37% of the company’s stock.

NeuroBo Pharmaceuticals Price Performance

NASDAQ:NRBO traded down $0.17 during trading hours on Friday, reaching $2.22. 40,631 shares of the company traded hands, compared to its average volume of 411,402. NeuroBo Pharmaceuticals has a 1-year low of $2.08 and a 1-year high of $6.75. The firm’s 50-day moving average is $2.97 and its 200-day moving average is $3.68.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.47). On average, analysts forecast that NeuroBo Pharmaceuticals will post -4.39 EPS for the current fiscal 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.