Citadel Advisors LLC Takes Position in Novus Therapeutics Inc (NASDAQ:NVUS)

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Citadel Advisors LLC purchased a new stake in Novus Therapeutics Inc (NASDAQ:NVUS) in the second quarter, according to its most recent filing with the SEC. The fund purchased 39,647 shares of the biopharmaceutical company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned about 0.31% of Novus Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Novus Therapeutics by 69.2% in the 2nd quarter. BlackRock Inc. now owns 33,544 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 13,721 shares during the last quarter. National Asset Management Inc. increased its holdings in shares of Novus Therapeutics by 69.1% in the 2nd quarter. National Asset Management Inc. now owns 270,000 shares of the biopharmaceutical company’s stock valued at $273,000 after acquiring an additional 110,295 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Novus Therapeutics by 528.2% in the 2nd quarter. Vanguard Group Inc. now owns 270,160 shares of the biopharmaceutical company’s stock valued at $273,000 after acquiring an additional 227,157 shares during the last quarter. Institutional investors and hedge funds own 45.29% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. ValuEngine downgraded Novus Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $10.00 price target on shares of Novus Therapeutics in a report on Monday, August 19th. Finally, Zacks Investment Research upgraded Novus Therapeutics from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a report on Friday, August 23rd.

Shares of NASDAQ NVUS opened at $0.54 on Friday. Novus Therapeutics Inc has a twelve month low of $0.50 and a twelve month high of $5.21. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $7.01 million, a price-to-earnings ratio of -0.35 and a beta of 2.86. The business has a 50 day simple moving average of $0.69 and a 200-day simple moving average of $1.66.

Novus Therapeutics (NASDAQ:NVUS) last issued its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.35). As a group, equities analysts predict that Novus Therapeutics Inc will post -1.5 earnings per share for the current year.

Novus Therapeutics Profile

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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Institutional Ownership by Quarter for Novus Therapeutics (NASDAQ:NVUS)

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