Novus Therapeutics (NVUS) Sets New 52-Week Low at $3.02

Shares of Novus Therapeutics Inc (NASDAQ:NVUS) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $3.02 and last traded at $3.16, with a volume of 2233 shares changing hands. The stock had previously closed at $3.33.

A number of research firms have recently issued reports on NVUS. LADENBURG THALM/SH SH began coverage on shares of Novus Therapeutics in a research note on Tuesday, September 11th. They set a “buy” rating and a $12.00 price objective on the stock. ValuEngine lowered shares of Novus Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research lowered shares of Novus Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, November 29th.

The company has a market cap of $32.69 million, a PE ratio of -1.35 and a beta of 0.79.

Novus Therapeutics (NASDAQ:NVUS) last posted its quarterly earnings data on Tuesday, November 13th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. As a group, equities research analysts forecast that Novus Therapeutics Inc will post -1.45 earnings per share for the current year.

In other news, President Catherine C. Turkel acquired 33,680 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were bought at an average price of $4.78 per share, for a total transaction of $160,990.40. Following the completion of the purchase, the president now directly owns 61,567 shares of the company’s stock, valued at approximately $294,290.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NVUS. National Asset Management Inc. increased its stake in shares of Novus Therapeutics by 345.9% in the third quarter. National Asset Management Inc. now owns 45,000 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 34,908 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Novus Therapeutics by 28.6% in the third quarter. Renaissance Technologies LLC now owns 251,556 shares of the biopharmaceutical company’s stock worth $1,175,000 after buying an additional 55,968 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Novus Therapeutics by 73.5% in the third quarter. Vanguard Group Inc. now owns 135,599 shares of the biopharmaceutical company’s stock worth $633,000 after buying an additional 57,450 shares during the last quarter. Institutional investors own 41.33% of the company’s stock.

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Novus Therapeutics Company Profile (NASDAQ:NVUS)

Novus Therapeutics, Inc, a pharmaceutical company, focuses on developing products for patients with disorders of ear, nose, and throat. Its lead product is (OP-02), a surfactant-based combination drug product for patients at risk for, or with, otitis media (OM) (middle ear inflammation with or without infection).

Further Reading: What is a Derivative?

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