Insider Buying: Novan Inc (NOVN) VP Buys 14,900 Shares of Stock

Novan Inc (NASDAQ:NOVN) VP John M. Gay acquired 14,900 shares of Novan stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $1.50 per share, with a total value of $22,350.00. Following the completion of the purchase, the vice president now owns 15,000 shares in the company, valued at $22,500. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of NASDAQ:NOVN opened at $1.86 on Wednesday. Novan Inc has a 52-week low of $0.65 and a 52-week high of $3.25.

A number of equities analysts have recently commented on NOVN shares. ValuEngine downgraded shares of Novan from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. JMP Securities downgraded shares of Novan from an “outperform” rating to a “market perform” rating in a research note on Friday, March 29th. Finally, Zacks Investment Research downgraded shares of Novan from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $4.33.

A number of large investors have recently modified their holdings of the stock. RMB Capital Management LLC raised its holdings in Novan by 45.5% in the 4th quarter. RMB Capital Management LLC now owns 32,000 shares of the company’s stock valued at $27,000 after acquiring an additional 10,000 shares during the period. Prospera Financial Services Inc raised its holdings in Novan by 44.3% in the 1st quarter. Prospera Financial Services Inc now owns 87,552 shares of the company’s stock valued at $79,000 after acquiring an additional 26,860 shares during the period. Bank of New York Mellon Corp bought a new position in Novan in the 4th quarter valued at about $25,000. Renaissance Technologies LLC raised its holdings in Novan by 52.0% in the 3rd quarter. Renaissance Technologies LLC now owns 89,700 shares of the company’s stock valued at $250,000 after acquiring an additional 30,700 shares during the period. Finally, Deutsche Bank AG raised its holdings in Novan by 4,462.7% in the 4th quarter. Deutsche Bank AG now owns 47,863 shares of the company’s stock valued at $39,000 after acquiring an additional 46,814 shares during the period. Institutional investors and hedge funds own 6.55% of the company’s stock.

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Novan Company Profile

Novan, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of nitric oxide-based therapies to treat dermatological and oncovirus-mediated diseases. Its clinical stage product candidates include SB204, a topical monotherapy that is in Phase III pivotal clinical trials for the treatment of acne vulgaris; and SB206, a topical antiviral gel, which is in Phase III pivotal trials for the treatment of patients with external genital warts, and Phase II clinical trial for the treatment of molluscum contagiosum.

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Insider Buying and Selling by Quarter for Novan (NASDAQ:NOVN)

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