Novus Therapeutics (NASDAQ:NVUS) Downgraded to “Strong Sell” at ValuEngine

Novus Therapeutics (NASDAQ:NVUS) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday, March 14th.

Separately, Ascendiant Capital Markets started coverage on Novus Therapeutics in a report on Tuesday, February 13th. They set a “buy” rating and a $7.00 price objective for the company.

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NVUS stock traded down $0.27 during mid-day trading on Wednesday, reaching $4.78. The company’s stock had a trading volume of 17,101 shares, compared to its average volume of 161,859. Novus Therapeutics has a 12 month low of $3.12 and a 12 month high of $6.84.

A hedge fund recently bought a new stake in Novus Therapeutics stock. Vanguard Group Inc. purchased a new stake in shares of Novus Therapeutics Inc (NASDAQ:NVUS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 42,803 shares of the biopharmaceutical company’s stock, valued at approximately $251,000. Vanguard Group Inc. owned about 5.78% of Novus Therapeutics at the end of the most recent reporting period. 32.79% of the stock is owned by institutional investors and hedge funds.

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Novus Therapeutics Company Profile

Novus Therapeutics, Inc, formerly Tokai Pharmaceuticals, Inc, is a pharmaceutical company. The Company is focused on the acquisition, development, and commercialization of ear, nose, and throat products. It has two platforms: OP-01 Foam Platform and OP-02 Surfactant Program. OP-01 is developed with the intent to be used as a delivery vehicle for drugs treating ears, as well as the nasal and sinus cavities.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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