NeuroBo Pharmaceuticals Inc. [NASDAQ: NRBO] traded at a low on 11/08/22, posting a -42.13 loss after which it closed the day’ session at $1.25. The company report on November 8, 2022 that NEUROBO ANNOUNCES CLOSING OF $32.3 MILLION UNDERWRITTEN PUBLIC OFFERING INCLUDING FULL EXERCISE OF OVERALLOTMENT OPTION AND CONCURRENT PRIVATE PLACEMENT.
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CLOSES EXCLUSIVE LICENSE OF ASSETS FROM DONG-A.
NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO) (“NeuroBo” or the “Company”), a clinical-stage biotechnology company focused on therapies for cardiometabolic diseases, today announced the closing of an underwritten public offering of units with gross proceeds of approximately $17.3 million, which includes the full exercise of the underwriter’s over-allotment option to purchase additional shares and warrants, prior to deducting underwriting discounts and commissions and offering expenses payable by NeuroBo. NeuroBo also announced the closing of the concurrent private placement of Series A Convertible Preferred Stock and warrants with gross proceeds of $15 million, prior to deducting placement fees and offering expenses payable by NeuroBo.
The results of the trading session contributed to over 18255769 shares changing hands. Over the past one week, the price volatility of NeuroBo Pharmaceuticals Inc. stands at 31.23% while the volatility over the past one month is 18.57%.
The market cap for NRBO stock reached $1.19 million, with 0.89 million shares outstanding and 0.22 million shares in the current float. Compared to the average trading volume of 623.72K shares, NRBO reached a trading volume of 18255769 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 1.38 The Price to Book ratio for the last quarter was 0.13, with the Price to Cash per share for the same quarter was set at 9.26.
How has NRBO stock performed recently?
NeuroBo Pharmaceuticals Inc. [NRBO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -82.49. With this latest performance, NRBO shares dropped by -87.84% in over the last four-week period, additionally sinking by -91.44% over the last 6 months – not to mention a drop of -97.84% 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 25.29, with the RSI for the last a single of trading hit 15.42, and the three-weeks RSI is set at 32.05 for NeuroBo Pharmaceuticals Inc. [NRBO]. The present Moving Average for the last 50 days of trading for this stock 11.89, while it was recorded at 3.54 for the last single week of trading, and 17.50 for the last 200 days.
NeuroBo Pharmaceuticals Inc. [NRBO]: Deeper insight into the fundamentals
NeuroBo Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.10 and a Current Ratio set at 8.10.
Insider trade positions for NeuroBo Pharmaceuticals Inc. [NRBO]
There are presently around $0 million, or 27.20% of NRBO stock, in the hands of institutional investors. The top three institutional holders of NRBO stocks are: VANGUARD GROUP INC with ownership of 16,465, which is approximately 0% of the company’s market cap and around 0.70% of the total institutional ownership; MURCHINSON LTD., holding 6,841 shares of the stock with an approximate value of $9000.0 in NRBO stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $5000.0 in NRBO stock with ownership of nearly New of the company’s market capitalization.
6 institutional holders increased their position in NeuroBo Pharmaceuticals Inc. [NASDAQ:NRBO] by around 7,848 shares. Additionally, 5 investors decreased positions by around 12,705 shares, while 11 investors held positions by with 18,360 shares. The mentioned changes placed institutional holdings at 38,913 shares, according to the latest SEC report filing. NRBO stock had 4 new institutional investments in for a total of 6,399 shares, while 2 institutional investors sold positions of 2,347 shares during the same period.