Novus Therapeutics Inc (NVUS) Insider Sells $10,288.20 in Stock

Novus Therapeutics Inc (NASDAQ:NVUS) insider Jon Kuwahara sold 5,276 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $1.95, for a total transaction of $10,288.20. Following the completion of the transaction, the insider now owns 7,032 shares of the company’s stock, valued at approximately $13,712.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Novus Therapeutics stock traded up $0.01 during mid-day trading on Friday, hitting $1.72. 30,092 shares of the stock were exchanged, compared to its average volume of 45,017. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.18 and a current ratio of 3.18. Novus Therapeutics Inc has a 12 month low of $1.52 and a 12 month high of $8.61. The firm has a market cap of $16.13 million, a price-to-earnings ratio of -1.10 and a beta of 3.32.

Novus Therapeutics (NASDAQ:NVUS) last released its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.04). As a group, equities research analysts predict that Novus Therapeutics Inc will post -1.61 EPS for the current fiscal year.

A number of brokerages recently issued reports on NVUS. Zacks Investment Research upgraded shares of Novus Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday. LADENBURG THALM/SH SH restated a “buy” rating and set a $10.00 price target on shares of Novus Therapeutics in a report on Wednesday, May 15th. Finally, ValuEngine upgraded shares of Novus Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, February 25th.

A number of institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its holdings in Novus Therapeutics by 28.6% during the 3rd quarter. Renaissance Technologies LLC now owns 251,556 shares of the biopharmaceutical company’s stock worth $1,175,000 after purchasing an additional 55,968 shares during the last quarter. National Asset Management Inc. increased its stake in shares of Novus Therapeutics by 32.8% in the 1st quarter. National Asset Management Inc. now owns 159,705 shares of the biopharmaceutical company’s stock valued at $643,000 after acquiring an additional 39,486 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Novus Therapeutics by 73.5% in the 3rd quarter. Vanguard Group Inc now owns 135,599 shares of the biopharmaceutical company’s stock valued at $633,000 after acquiring an additional 57,450 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Novus Therapeutics by 73.5% in the 3rd quarter. Vanguard Group Inc. now owns 135,599 shares of the biopharmaceutical company’s stock valued at $633,000 after acquiring an additional 57,450 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Novus Therapeutics by 5,676.8% in the 1st quarter. Morgan Stanley now owns 12,189 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 11,978 shares in the last quarter. Hedge funds and other institutional investors own 36.09% of the company’s stock.

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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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