Nutriband (NASDAQ:NTRBW) Stock Price Down 8.9% – Here’s Why

Shares of Nutriband Inc. (NASDAQ:NTRBW) traded down 8.9% on Tuesday . The stock traded as low as $0.35 and last traded at $0.41. 5,500 shares changed hands during mid-day trading, an increase of 49% from the average session volume of 3,689 shares. The stock had previously closed at $0.45.

Nutriband Price Performance

The business has a 50 day simple moving average of $0.59 and a 200-day simple moving average of $1.01.

Hedge Funds Weigh In On Nutriband

An institutional investor recently bought a new position in Nutriband stock. Empery Asset Management LP acquired a new position in shares of Nutriband Inc. (NASDAQ:NTRBW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 40,218 shares of the company’s stock, valued at approximately $65,000. Nutriband comprises approximately 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.