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

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

NeuroBo Pharmaceuticals Stock Down 1.4 %

The business’s fifty day moving average is $1.79 and its 200 day moving average is $2.40.

Institutional Investors Weigh In On NeuroBo Pharmaceuticals

An institutional investor recently bought a new position in NeuroBo Pharmaceuticals stock. Ferguson Wellman Capital Management Inc. purchased a new stake in NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. Institutional investors own 1.37% of the company’s stock.

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.