NeuroBo Pharmaceuticals (NASDAQ:NRBO) Trading 0.4% Higher – Still a Buy?

Shares of NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) rose 0.4% during mid-day trading on Friday . The stock traded as high as $2.46 and last traded at $2.31. Approximately 22,367 shares changed hands during trading, a decline of 94% from the average daily volume of 397,830 shares. The stock had previously closed at $2.30.

NeuroBo Pharmaceuticals Stock Up 0.4 %

The business has a fifty day moving average price of $2.64 and a 200-day moving average price of $3.52.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NRBO. Armistice Capital LLC purchased a new stake in NeuroBo Pharmaceuticals during the second quarter valued at about $3,373,000. Affinity Asset Advisors LLC purchased a new position in NeuroBo Pharmaceuticals during the 2nd quarter valued at $432,000. Finally, Ferguson Wellman Capital Management Inc. bought a new position in NeuroBo Pharmaceuticals in the third quarter worth about $50,000. 1.37% of the stock is owned by hedge funds and other institutional investors.

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.