Nutriband (NASDAQ:NTRBW) Shares Down 13% – Time to Sell?

Shares of Nutriband Inc. (NASDAQ:NTRBW) dropped 13% during mid-day trading on Wednesday . The company traded as low as $1.1950 and last traded at $1.00. Approximately 14 shares traded hands during trading, a decline of 99% from the average daily volume of 2,212 shares. The stock had previously closed at $1.15.

Nutriband Stock Performance

The stock has a 50-day simple moving average of $1.29 and a 200-day simple moving average of $1.57.

Institutional Investors Weigh In On Nutriband

A hedge fund recently bought a new stake in Nutriband stock. Empery Asset Management LP purchased a new stake in shares of Nutriband Inc. (NASDAQ:NTRBW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,218 shares of the company’s stock, valued at approximately $65,000. Nutriband accounts for 0.1% of Empery Asset Management LP’s portfolio, making the stock its 20th largest holding.

About Nutriband

Nutriband Inc develops a portfolio of transdermal pharmaceutical products. Its lead product in development is AVERSA fentanyl, an abuse deterrent fentanyl transdermal system that provides clinicians and patients with an extended-release transdermal fentanyl product for use in managing chronic pain requiring around the clock opioid therapy. The company also develops other products, which include AVERSA buprenorphine and AVERSA methylphenidate; exenatide for type 2 diabetes; and follicle stimulating hormone for infertility.