H.C. Wainwright slashes price target on NeuroBo Pharmaceuticals Inc. [NRBO] – find out why.

NeuroBo Pharmaceuticals Inc. [NASDAQ: NRBO] plunged by -$0.08 during the normal trading session on Thursday and reaching a high of $1.54 during the day while it closed the day at $1.29. 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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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.

NeuroBo Pharmaceuticals Inc. stock has also loss -2.27% of its value over the past 7 days. However, NRBO stock has declined by -88.72% in the 3 months of the year. Over the past six months meanwhile, it has lost -92.39% and lost -96.48% year-on date.

The market cap for NRBO stock reached $4.99 million, with 0.89 million shares outstanding and 0.42 million shares in the current float. Compared to the average trading volume of 1.98M shares, NRBO reached a trading volume of 2211280 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 0.97 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 2.27.

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 -2.27. With this latest performance, NRBO shares dropped by -89.30% in over the last four-week period, additionally sinking by -92.39% over the last 6 months – not to mention a drop of -97.46% 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 27.11, with the RSI for the last a single of trading hit 19.89, and the three-weeks RSI is set at 32.89 for NeuroBo Pharmaceuticals Inc. [NRBO]. The present Moving Average for the last 50 days of trading for this stock 10.7284, while it was recorded at 1.3480 for the last single week of trading, and 16.4443 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 8.10 and a Current Ratio set at 8.10.

NeuroBo Pharmaceuticals Inc. [NRBO]: Insider Ownership positions

There are presently around $0 million, or 5.90% of NRBO stock, in the hands of institutional investors. The top three institutional holders of NRBO stocks are: VANGUARD GROUP INC with ownership of 11,393, which is approximately -30.805% of the company’s market cap and around 0.20% of the total institutional ownership; UBS GROUP AG, holding 3,765 shares of the stock with an approximate value of $5000.0 in NRBO stocks shares; and BLACKROCK INC., currently with $1000.0 in NRBO stock with ownership of nearly -0.141% of the company’s market capitalization.

2 institutional holders increased their position in NeuroBo Pharmaceuticals Inc. [NASDAQ:NRBO] by around 3,701 shares. Additionally, 19 investors decreased positions by around 28,431 shares, while 1 investors held positions by with 16,035 shares. The mentioned changes placed institutional holdings at 16,097 shares, according to the latest SEC report filing. NRBO stock had 1 new institutional investments in for a total of 38 shares, while 13 institutional investors sold positions of 23,023 shares during the same period.


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