Novus Therapeutics (NASDAQ:NVUS) Sees Strong Trading Volume

Shares of Novus Therapeutics Inc (NASDAQ:NVUS) saw an uptick in trading volume on Tuesday . 1,366,468 shares were traded during mid-day trading, an increase of 1,252% from the previous session’s volume of 101,095 shares.The stock last traded at $0.59 and had previously closed at $0.52.

Several brokerages have issued reports on NVUS. ValuEngine lowered shares of Novus Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research lowered shares of Novus Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. HC Wainwright assumed coverage on shares of Novus Therapeutics in a report on Wednesday, November 27th. They issued a “buy” rating and a $2.00 target price on the stock. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $10.00 target price on shares of Novus Therapeutics in a report on Monday, August 19th.

The company’s fifty day moving average price is $0.61 and its two-hundred day moving average price is $0.84. The company has a current ratio of 7.40, a quick ratio of 7.40 and a debt-to-equity ratio of 0.01. The firm has a market cap of $6.75 million, a P/E ratio of -0.38 and a beta of 2.89.

Novus Therapeutics (NASDAQ:NVUS) last posted its earnings results on Wednesday, November 13th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.18. On average, analysts predict that Novus Therapeutics Inc will post -1.42 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of NVUS. National Asset Management Inc. grew its holdings in shares of Novus Therapeutics by 69.1% in the 2nd quarter. National Asset Management Inc. now owns 270,000 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 110,295 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Novus Therapeutics by 69.2% in the 2nd quarter. BlackRock Inc. now owns 33,544 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 13,721 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Novus Therapeutics by 528.2% in the 2nd quarter. Vanguard Group Inc. now owns 270,160 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 227,157 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Novus Therapeutics in the 2nd quarter worth about $40,000. Finally, Orbimed Advisors LLC grew its holdings in shares of Novus Therapeutics by 25.5% in the 2nd quarter. Orbimed Advisors LLC now owns 3,183,314 shares of the biopharmaceutical company’s stock worth $3,215,000 after purchasing an additional 646,204 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

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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