Shares of Novus Therapeutics Inc (NASDAQ:NVUS) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.95 and traded as low as $0.75. Novus Therapeutics shares last traded at $0.78, with a volume of 1,925 shares traded.
Several research analysts have recently weighed in on the company. ValuEngine downgraded Novus Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Zacks Investment Research raised Novus Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 28th. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $10.00 target price on shares of Novus Therapeutics in a research note on Wednesday, May 15th.
The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.03. The stock has a market cap of $10.13 million, a PE ratio of -0.50 and a beta of 2.88. The company has a 50-day moving average of $0.94.
In related news, CEO Gregory J. Flesher sold 14,638 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $1.95, for a total transaction of $28,544.10. Following the completion of the sale, the chief executive officer now directly owns 159,855 shares in the company, valued at $311,717.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 29,451 shares of company stock valued at $57,429 over the last quarter. 5.70% of the stock is owned by company insiders.
An institutional investor recently bought a new position in Novus Therapeutics stock. Seelaus Asset Management LLC purchased a new position in shares of Novus Therapeutics Inc (NASDAQ:NVUS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,000 shares of the biopharmaceutical company’s stock, valued at approximately $40,000. Seelaus Asset Management LLC owned approximately 0.11% of Novus Therapeutics as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 26.04% of the company’s stock.
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).
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