NeuroBo Pharmaceuticals (NASDAQ:NRBO) Stock Price Up 0.4% – Should You Buy?

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

NeuroBo Pharmaceuticals Trading Up 0.4 %

The firm has a fifty day simple moving average of $2.62 and a two-hundred day simple moving average of $3.49.

Institutional Investors Weigh In On NeuroBo Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Ferguson Wellman Capital Management Inc. bought a new stake in shares of NeuroBo Pharmaceuticals in the third quarter valued at approximately $50,000. Affinity Asset Advisors LLC bought a new position in NeuroBo Pharmaceuticals in the 2nd quarter worth approximately $432,000. Finally, Armistice Capital LLC purchased a new position in NeuroBo Pharmaceuticals in the 2nd quarter valued at approximately $3,373,000. 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.