Novan (NASDAQ:NOVN) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Novan (NASDAQ:NOVNFree Report) in a research note issued to investors on Saturday. The firm issued a sell rating on the stock.

Novan Price Performance

NOVN stock opened at $0.00 on Friday. The stock 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 52-week low of $0.08 and a 52-week high of $3.33.

Institutional Investors Weigh In On Novan

Institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. raised its holdings in shares of Novan by 20.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 187,000 shares of the company’s stock valued at $243,000 after purchasing an additional 32,000 shares during the last quarter. Armistice Capital LLC purchased a new stake in Novan in the 1st quarter valued at about $2,921,000. Two Sigma Securities LLC bought a new position in shares of Novan during the 1st quarter worth approximately $50,000. Wealthsource Partners LLC purchased a new position in shares of Novan in the 3rd quarter worth approximately $291,000. Finally, Citadel Advisors LLC bought a new position in shares of Novan in the third quarter valued at approximately $33,000. 14.51% of the stock is owned by hedge funds and other institutional investors.

Novan Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Novan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novan and related companies with MarketBeat.com's FREE daily email newsletter.