Novan (NASDAQ:NOVN) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Novan (NASDAQ:NOVN) in a report published on Monday morning. The brokerage issued a sell rating on the stock.

Novan Stock Performance

Shares of NASDAQ NOVN opened at $0.00 on Monday. The firm has a market cap of $22,412.00, a price-to-earnings ratio of 0.00 and a beta of -0.06. Novan has a one year low of $0.08 and a one year high of $3.33.

Institutional Investors Weigh In On Novan

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Novan by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 789,719 shares of the company’s stock worth $3,112,000 after purchasing an additional 8,899 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Novan in the 1st quarter worth about $2,921,000. Renaissance Technologies LLC boosted its position in shares of Novan by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 382,665 shares of the company’s stock worth $1,508,000 after buying an additional 38,293 shares in the last quarter. Wealthsource Partners LLC purchased a new stake in shares of Novan in the 3rd quarter worth about $291,000. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Novan by 20.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 187,000 shares of the company’s stock worth $243,000 after buying an additional 32,000 shares in the last quarter. 14.51% of the stock is currently owned by hedge funds and other institutional investors.

About Novan

Novan, Inc, a medical dermatology company, focuses on developing and commercializing therapeutic products for skin diseases. Its clinical stage dermatology drug candidates include SB204, a topical monotherapy for the treatment of acne vulgaris; SB206, a topical anti-viral gel for the treatment of viral skin infections; SB208, a topical broad-spectrum anti-fungal gel for the treatment of fungal infections of the skin and nails, including athlete's foot and fungal nail infections; and SB414, a topical cream-based gel product candidate for the treatment of inflammatory skin diseases.