NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Sees Significant Increase in Short Interest

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 33,300 shares, a growth of 18.5% from the August 31st total of 28,100 shares. Based on an average trading volume of 57,300 shares, the short-interest ratio is currently 0.6 days. Approximately 1.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NeuroBo Pharmaceuticals stock. Affinity Asset Advisors LLC acquired a new stake in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 89,222 shares of the company’s stock, valued at approximately $432,000. Affinity Asset Advisors LLC owned about 1.82% of NeuroBo Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 1.37% of the stock is currently owned by institutional investors and hedge funds.

NeuroBo Pharmaceuticals Stock Up 0.6 %

NASDAQ NRBO traded up $0.02 during trading on Monday, reaching $3.34. 125,040 shares of the company’s stock were exchanged, compared to its average volume of 477,304. The company has a 50 day moving average price of $3.69 and a two-hundred day moving average price of $3.94. NeuroBo Pharmaceuticals has a 1 year low of $2.90 and a 1 year high of $6.75.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last released 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 earnings per share for the current fiscal year.

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.