NeuroBo Pharmaceuticals (NASDAQ:NRBO) Shares Down 4.5% – Here’s Why

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO)’s stock price was down 4.5% during trading on Tuesday . The stock traded as low as $1.43 and last traded at $1.48. Approximately 33,642 shares were traded during trading, a decline of 29% from the average daily volume of 47,714 shares. The stock had previously closed at $1.55.

NeuroBo Pharmaceuticals Trading Down 1.4 %

The business has a 50-day moving average price of $1.79 and a two-hundred day moving average price of $2.40.

Institutional Investors Weigh In On NeuroBo Pharmaceuticals

An institutional investor recently bought a new position in NeuroBo Pharmaceuticals stock. Ferguson Wellman Capital Management Inc. purchased a new position in shares of NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,670 shares of the company’s stock, valued at approximately $50,000. Ferguson Wellman Capital Management Inc. owned approximately 0.19% of NeuroBo Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 1.37% of the company’s stock.

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.