NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) Major Shareholder St Co. Ltd Dong-A Acquires 2,544,530 Shares

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) major shareholder St Co. Ltd Dong-A purchased 2,544,530 shares of the stock in a transaction dated Sunday, June 23rd. The stock was purchased at an average price of $3.13 per share, with a total value of $7,964,378.90. Following the completion of the acquisition, the insider now directly owns 5,348,229 shares in the company, valued at approximately $16,739,956.77. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

NeuroBo Pharmaceuticals Stock Up 4.4 %

Shares of NRBO stock opened at $4.26 on Wednesday. The stock has a 50-day simple moving average of $3.88 and a 200 day simple moving average of $4.10. NeuroBo Pharmaceuticals, Inc. has a fifty-two week low of $2.89 and a fifty-two week high of $6.75.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last announced its earnings results on Thursday, May 9th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.37). On average, equities research analysts anticipate that NeuroBo Pharmaceuticals, Inc. will post -4.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Maxim Group initiated coverage on NeuroBo Pharmaceuticals in a research note on Wednesday, May 8th. They set a “buy” rating and a $10.00 price objective for the company.

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 for both NASH and T2D; and DA-1726, a novel oxyntomodulin analogue functioning as a GLP1R/GCGR dual agonist for the treatment of NASH and obesity.