NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO – Get Rating) was the target of a significant decline in short interest in May. As of May 31st, there was short interest totalling 200,900 shares, a decline of 15.8% from the May 15th total of 238,500 shares. Based on an average daily trading volume, of 198,200 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.7% of the company’s shares are sold short.
Several hedge funds and other institutional investors have recently modified their holdings of NRBO. Renaissance Technologies LLC purchased a new position in NeuroBo Pharmaceuticals in the fourth quarter valued at $28,000. Millennium Management LLC purchased a new position in NeuroBo Pharmaceuticals in the second quarter valued at $98,000. Geode Capital Management LLC boosted its holdings in NeuroBo Pharmaceuticals by 37.3% in the third quarter. Geode Capital Management LLC now owns 60,792 shares of the company’s stock valued at $226,000 after purchasing an additional 16,522 shares during the period. Finally, Murchinson Ltd. purchased a new position in NeuroBo Pharmaceuticals in the fourth quarter valued at $251,000. 6.35% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ NRBO traded up $0.01 during trading on Friday, reaching $0.41. The stock had a trading volume of 49,997 shares, compared to its average volume of 96,272. NeuroBo Pharmaceuticals has a fifty-two week low of $0.37 and a fifty-two week high of $5.63. The business’s 50-day moving average price is $0.59 and its 200-day moving average price is $0.92.
About NeuroBo Pharmaceuticals (Get Rating)
NeuroBo Pharmaceuticals, Inc, a clinical-stage biotechnology company provides therapies for neurodegenerative, infectious, and cardiometabolic diseases. Its therapeutics programs include ANA001, an oral niclosamide formulation, which is in Phase 2/3 clinical trials to treat patients with moderate coronavirus disease (COVID-19); NB-01 for the treatment of painful diabetic neuropathy; NB-02 to treat the symptoms of cognitive impairment and modify the progression of neurodegenerative diseases associated with the malfunction of tau protein; and Gemcabene, an acute indication for COVID-19.
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