Novus Therapeutics (NASDAQ:NVUS) Stock Price Down 5.1%

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Novus Therapeutics Inc (NASDAQ:NVUS) shares dropped 5.1% during mid-day trading on Thursday . The stock traded as low as $0.54 and last traded at $0.52, approximately 15,530 shares changed hands during mid-day trading. A decline of 98% from the average daily volume of 660,148 shares. The stock had previously closed at $0.55.

NVUS has been the subject of several research analyst reports. ValuEngine upgraded Novus Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Ascendiant Capital Markets reaffirmed a “market perform” rating and set a $3.25 price target on shares of Novus Therapeutics in a research report on Monday, May 11th. LADENBURG THALM/SH SH downgraded Novus Therapeutics from a “buy” rating to a “neutral” rating and set a $0.60 price target for the company. in a research report on Tuesday, June 2nd. Finally, Zacks Investment Research downgraded Novus Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Novus Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $1.78.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.85 and a current ratio of 6.85. The business has a 50-day simple moving average of $0.77 and a two-hundred day simple moving average of $0.59. The stock has a market cap of $8.52 million, a price-to-earnings ratio of -0.40 and a beta of 3.18.

Novus Therapeutics (NASDAQ:NVUS) last released its quarterly earnings results on Friday, May 15th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.31). On average, analysts expect that Novus Therapeutics Inc will post -0.84 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Novus Therapeutics stock. Renaissance Technologies LLC boosted its holdings in Novus Therapeutics Inc (NASDAQ:NVUS) by 19.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 455,736 shares of the biopharmaceutical company’s stock after acquiring an additional 73,500 shares during the period. Renaissance Technologies LLC owned 3.51% of Novus Therapeutics worth $264,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 33.52% 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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