Nutriband (NASDAQ:NTRBW) Stock Price Down 8.9% – Here’s Why

Shares of Nutriband Inc. (NASDAQ:NTRBW) fell 8.9% during trading on Tuesday . The company traded as low as $0.35 and last traded at $0.41. Approximately 5,500 shares changed hands during mid-day trading, an increase of 49% from the average session volume of 3,689 shares. The stock had previously closed at $0.45.

Nutriband Stock Performance

The company’s 50-day moving average is $0.60 and its two-hundred day moving average is $1.02.

Hedge Funds Weigh In On Nutriband

A hedge fund recently bought a new stake in Nutriband stock. Empery Asset Management LP purchased a new position in shares of Nutriband Inc. (NASDAQ:NTRBW) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 40,218 shares of the company’s stock, valued at approximately $65,000. Nutriband accounts for about 0.1% of Empery Asset Management LP’s portfolio, making the stock its 20th largest position.

About Nutriband

Nutriband Inc develops a portfolio of transdermal pharmaceutical products. Its lead product in development is AVERSA fentanyl, an abuse deterrent fentanyl transdermal system that provides clinicians and patients with an extended-release transdermal fentanyl product for use in managing chronic pain requiring around the clock opioid therapy. The company also develops other products, which include AVERSA buprenorphine and AVERSA methylphenidate; exenatide for type 2 diabetes; and follicle stimulating hormone for infertility.