NeuroBo Pharmaceuticals (NASDAQ:NRBO) Stock Price Down 4.5% – Should You Sell?

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) shares were down 4.5% during mid-day trading on Tuesday . The stock traded as low as $1.43 and last traded at $1.48. Approximately 33,642 shares changed hands during trading, a decline of 29% from the average daily volume of 47,714 shares. The stock had previously closed at $1.55.

NeuroBo Pharmaceuticals Stock Down 4.5 %

The firm has a fifty day simple moving average of $1.81 and a 200 day simple moving average of $2.41.

Institutional Inflows and Outflows

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

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 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.