NeuroBo Pharmaceuticals (NASDAQ:NRBO) Stock Price Up 2.9% – Here’s Why

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) shares rose 2.9% on Tuesday . The company traded as high as $2.04 and last traded at $1.95. Approximately 31,582 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 397,830 shares. The stock had previously closed at $1.89.

NeuroBo Pharmaceuticals Stock Up 2.9 %

The business has a 50 day moving average price of $2.17 and a two-hundred day moving average price of $3.03.

NeuroBo Pharmaceuticals (NASDAQ:NRBO) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.27. On average, analysts expect that NeuroBo Pharmaceuticals, Inc. will post -3.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Affinity Asset Advisors LLC purchased a new stake in NeuroBo Pharmaceuticals in the second quarter worth about $432,000. Armistice Capital LLC purchased a new position in NeuroBo Pharmaceuticals during the second quarter valued at $3,373,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in shares of NeuroBo Pharmaceuticals in the third quarter worth $50,000. Institutional investors 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.