Nutriband (NASDAQ:NTRBW) Stock Price Down 40.6% – Here’s Why

Nutriband Inc. (NASDAQ:NTRBW)’s stock price traded down 40.6% during mid-day trading on Tuesday . The company traded as low as $0.35 and last traded at $0.2080. 1,000 shares were traded during mid-day trading, a decline of 51% from the average session volume of 2,029 shares. The stock had previously closed at $0.35.

Nutriband Stock Performance

The company has a 50 day moving average of $0.77 and a 200 day moving average of $1.13.

Hedge Funds Weigh In On Nutriband

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

Nutriband Company Profile

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.