Nutriband (NASDAQ:NTRBW) Shares Down 40.6% – Here’s What Happened

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

Nutriband Stock Performance

The business’s 50-day simple moving average is $0.78 and its 200-day simple moving average is $1.14.

Hedge Funds Weigh In On Nutriband

A hedge fund recently bought a new position in Nutriband stock. Empery Asset Management LP acquired a new position in Nutriband Inc. (NASDAQ:NTRBW) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 portfolio, 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.