Novus Therapeutics Inc (NASDAQ:NVUS) Sees Significant Decline in Short Interest

Novus Therapeutics Inc (NASDAQ:NVUS) saw a large decrease in short interest in the month of November. As of November 29th, there was short interest totalling 11,300 shares, a decrease of 10.3% from the November 14th total of 12,600 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 102,500 shares, the short-interest ratio is presently 0.1 days.

A number of analysts have recently weighed in on NVUS shares. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $10.00 price target on shares of Novus Therapeutics in a research note on Monday, August 19th. ValuEngine lowered shares of Novus Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research lowered shares of Novus Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, HC Wainwright started coverage on shares of Novus Therapeutics in a research note on Wednesday, November 27th. They set a “buy” rating and a $2.00 target price for the company.

NVUS stock traded down $0.01 on Friday, hitting $0.52. 118,346 shares of the company’s stock traded hands, compared to its average volume of 126,533. Novus Therapeutics has a 1-year low of $0.40 and a 1-year high of $5.21. The stock has a market cap of $7.00 million, a price-to-earnings ratio of -0.33 and a beta of 2.89. The stock has a fifty day moving average of $0.62 and a 200-day moving average of $0.82. The company has a current ratio of 7.40, a quick ratio of 7.40 and a debt-to-equity ratio of 0.01.

Novus Therapeutics (NASDAQ:NVUS) last released its earnings results on Wednesday, November 13th. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.18. On average, equities research analysts anticipate that Novus Therapeutics will post -1.42 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Novus Therapeutics by 528.2% during the second quarter. Vanguard Group Inc. now owns 270,160 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 227,157 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Novus Therapeutics during the second quarter valued at approximately $40,000. National Asset Management Inc. lifted its stake in Novus Therapeutics by 69.1% during the second quarter. National Asset Management Inc. now owns 270,000 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 110,295 shares during the last quarter. Orbimed Advisors LLC lifted its stake in Novus Therapeutics by 25.5% during the second quarter. Orbimed Advisors LLC now owns 3,183,314 shares of the biopharmaceutical company’s stock valued at $3,215,000 after purchasing an additional 646,204 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Novus Therapeutics by 69.2% during the second quarter. BlackRock Inc. now owns 33,544 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 13,721 shares during the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.

About Novus Therapeutics

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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