NeuBase Therapeutics (NASDAQ:NBSE) Downgraded by Zacks Investment Research to “Sell”

NeuBase Therapeutics (NASDAQ:NBSEGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “NeuBase Therapeutics Inc. is a biotechnology company. It is engaged in developing antisense therapies to address genetic diseases. The company’s proprietary platform includes PATrOL(TM). NeuBase Therapeutics Inc., formerly known as Ohr Pharmaceutical Inc., is based in Pittsburgh, United States. “

Separately, Chardan Capital cut their target price on shares of NeuBase Therapeutics from $18.00 to $9.00 in a research note on Friday, May 13th.

Shares of NBSE opened at $1.01 on Thursday. The firm has a 50-day moving average of $1.50 and a 200-day moving average of $2.08. NeuBase Therapeutics has a one year low of $0.89 and a one year high of $5.51. The company has a market cap of $32.58 million, a PE ratio of -0.97 and a beta of 0.79.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP grew its holdings in NeuBase Therapeutics by 1.5% during the 3rd quarter. GSA Capital Partners LLP now owns 351,178 shares of the company’s stock worth $1,268,000 after acquiring an additional 5,027 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NeuBase Therapeutics by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 239,819 shares of the company’s stock worth $865,000 after purchasing an additional 5,963 shares during the period. Perkins Capital Management Inc. lifted its position in shares of NeuBase Therapeutics by 42.9% in the 4th quarter. Perkins Capital Management Inc. now owns 30,000 shares of the company’s stock worth $84,000 after purchasing an additional 9,000 shares during the period. Heritage Wealth Advisors acquired a new position in shares of NeuBase Therapeutics in the 4th quarter worth approximately $28,000. Finally, State Street Corp lifted its position in shares of NeuBase Therapeutics by 18.4% in the 1st quarter. State Street Corp now owns 68,687 shares of the company’s stock worth $129,000 after purchasing an additional 10,674 shares during the period. 34.30% of the stock is currently owned by hedge funds and other institutional investors.

About NeuBase Therapeutics (Get Rating)

NeuBase Therapeutics, Inc, a pre-clinical-stage biopharmaceutical company, focuses on the development of therapies to treat rare genetic diseases and cancers caused by mutant genes. The company's proprietary modular peptide-nucleic acid antisense oligo (PATrOL) platform focuses on addressing Huntington's disease (HD) and myotonic dystrophy, as well as other genetic disorders, and cancer and oncology applications.

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