NeuroBo Pharmaceuticals (NASDAQ:NRBO) Stock Price Up 1.5% – Still a Buy?

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO)’s stock price rose 1.5% during trading on Monday . The stock traded as high as $1.73 and last traded at $1.67. Approximately 18,183 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 397,830 shares. The stock had previously closed at $1.65.

NeuroBo Pharmaceuticals Stock Performance

The business’s 50 day moving average price is $1.95 and its two-hundred day moving average price is $2.66.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NeuroBo Pharmaceuticals stock. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,670 shares of the company’s stock, valued at approximately $50,000. Ferguson Wellman Capital Management Inc. owned approximately 0.19% of NeuroBo Pharmaceuticals as of its most recent SEC filing. 1.37% of the stock is currently owned by institutional investors and hedge funds.

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.