NeuroBo Pharmaceuticals Inc. [NASDAQ: NRBO] surged by $0.27 during the normal trading session on Thursday and reaching a high of $6.17 during the day while it closed the day at $5.42. The company report on January 22, 2021 that NeuroBo Pharmaceuticals Closes $10.0 Million Private Placement.
NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO), a clinical-stage biotechnology company, announced the closing of its previously announced private placement of an aggregate 2,500,000 shares of its common stock and warrants to purchase up to an aggregate of 2,500,000 shares of its common stock. Each share and corresponding warrant is being sold at an aggregate purchase price of $4.00 for gross proceeds to the Company of $10.0 million. The warrants have an exercise price of $6.03 per share, are exercisable commencing six months following the issuance date and have a term of five and one-half years.
After deducting the placement agent’s fees and other estimated offering expenses to be paid by the Company, the Company received net proceeds of approximately $9.2 million. The Company intends to use the net proceeds for working capital, capital expenditures and general corporate purposes.
NeuroBo Pharmaceuticals Inc. stock has also loss -5.24% of its value over the past 7 days. However, NRBO stock has inclined by 2.46% in the 3 months of the year. Over the past six months meanwhile, it has lost -17.75% and gained 3.24% year-on date.
The market cap for NRBO stock reached $99.51 million, with 16.43 million shares outstanding and 15.78 million shares in the current float. Compared to the average trading volume of 141.31K shares, NRBO reached a trading volume of 8206391 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about NeuroBo Pharmaceuticals Inc. [NRBO]:
H.C. Wainwright have made an estimate for NeuroBo Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 15, 2020.
The Average True Range (ATR) for NeuroBo Pharmaceuticals Inc. is set at 0.59 The Price to Book ratio for the last quarter was 9.34, with the Price to Cash per share for the same quarter was set at 0.68.
NRBO stock trade performance evaluation
NeuroBo Pharmaceuticals Inc. [NRBO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.24. With this latest performance, NRBO shares dropped by -2.69% in over the last four-week period, additionally sinking by -17.75% over the last 6 months – not to mention a drop of -49.72% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NRBO stock in for the last two-week period is set at 48.06, with the RSI for the last a single of trading hit 48.22, and the three-weeks RSI is set at 48.21 for NeuroBo Pharmaceuticals Inc. [NRBO]. The present Moving Average for the last 50 days of trading for this stock 5.65, while it was recorded at 5.25 for the last single week of trading, and 7.66 for the last 200 days.
NeuroBo Pharmaceuticals Inc. [NRBO]: An insightful look at the core fundamentals
NeuroBo Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 3.60.
Earnings per share (EPS) analysis for NeuroBo Pharmaceuticals Inc. [NRBO] stock
With the latest financial reports released by the company, NeuroBo Pharmaceuticals Inc. posted -3.37/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1,585.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NRBO.
NeuroBo Pharmaceuticals Inc. [NRBO]: Insider Ownership positions
There are presently around $4 million, or 6.50% of NRBO stock, in the hands of institutional investors. The top three institutional holders of NRBO stocks are: BLACKROCK INC. with ownership of 209,507, which is approximately 0.285% of the company’s market cap and around 0.20% of the total institutional ownership; SABBY MANAGEMENT, LLC, holding 182,543 shares of the stock with an approximate value of $0.99 million in NRBO stocks shares; and NORTHERN TRUST CORP, currently with $0.46 million in NRBO stock with ownership of nearly 9.321% of the company’s market capitalization.
9 institutional holders increased their position in NeuroBo Pharmaceuticals Inc. [NASDAQ:NRBO] by around 40,036 shares. Additionally, 13 investors decreased positions by around 121,164 shares, while 6 investors held positions by with 577,778 shares. The mentioned changes placed institutional holdings at 738,978 shares, according to the latest SEC report filing. NRBO stock had 2 new institutional investments in for a total of 28,688 shares, while 3 institutional investors sold positions of 23,154 shares during the same period.