Why Should You Put Novus Therapeutics Inc. (NASDAQ :NVUS) On Your Portfolio?


    683 Capital Management LLC recently announced the acquisition of new stake in Novus Therapeutics Inc. (NASDAQ:NVUS). The institutional investor has increased its shareholding in the Healthcare company by 215.40% to 0.95 million shares with purchase of 0.65 million shares. This fresh investment now brings its stake to 5.89% valued currently at $1.2 million. In addition, Renaissance Technologies LLC raised its holdings by 1588.0 to 0.46 million shares. And Rockefeller & Co. LLC has lifted its position to 30000.0 shares – to 30000.0 shares.

    With over 0.51 million Novus Therapeutics Inc. (NVUS) shares trading Monday and a closing price of $0.45 on the day, the dollar volume was approximately $0.23 million. The shares have shown a negative weekly performance of -10.00% and its price on 07/06/20 lost nearly -2.62%. Currently, there are 17.27M common shares owned by the public and among those 15.33M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for NVUS have a consensus price objective of $0.93. The analysts have set the share’s price value over the next 12 months at a high of $1.25 and a low of $0.60 should the stock experience a downside. Incidentally, analysts’ outlook for the Novus Therapeutics Inc. stock is 2.30 for the next 12 months. The estimated low will see the stock gain 25.0% over that period. But an upside of 64.0% will see the stock hit the forecast high price target while mean target price for the stock is $0.93.

    Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

    The top 3 mutual fund holders in Novus Therapeutics Inc. are Vanguard Extended Market Index Fu, iShares Tr. – Micro Cap ETF, and Fidelity Nasdaq Composite Index F. Vanguard Extended Market Index Fu owns 54790.0 shares of the company’s stock, all valued at over $69583.0. The company bought an additional 17100.0 shares recently to bring their total holdings to about 0.34% of the shares outstanding. iShares Tr. – Micro Cap ETF has total holdings of 21986.0 shares valued at over $27922.0 and representing 0.14% of the shares outstanding. Fidelity Nasdaq Composite Index F has total holdings to over 4977.0 shares at a value of $6321.0. Fidelity Nasdaq Composite Index F now owns shares totaling to 0.03% of the shares outstanding.

    Shares of Novus Therapeutics Inc. (NASDAQ: NVUS) opened at $0.512, up $0.05 from a prior closing price of $0.46. However, the script later closed the day at $0.45, down -2.62%. The company’s stock has a 5-day price change of -10.00% and 32.67% over the past three months. NVUS shares are trading -22.41% year to date (YTD), with the 12-month market performance down to -49.43% lower. It has a 12-month low price of $0.25 and touched a high of $1.45 over the same period. Currently, 0.51 million shares have been traded, compared to an average intraday trading volume of 1.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.24%, -34.47%, and -23.33% respectively.

    Institutional ownership of Novus Therapeutics Inc. (NASDAQ: NVUS) shares accounts for 38.40% of the company’s 17.27M shares outstanding. Mutual fund holders own 21.30%, while other institutional holders and individual stakeholders account for 33.71% and 0.59% respectively.

    It has a market capitalization of $7.11M and a beta (3y monthly) value of 3.19. The stock’s earnings-per-share (ttm) stands at -$1.36. The company has a Quick Ratio of 6.90 with the debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.64% over the week and 8.82% over the month.

    Analysts forecast that Novus Therapeutics Inc. (NVUS) will achieve an EPS of -$0.16 for the current quarter, -$0.14 for the next quarter and -$0.44 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$0.35 a year ago. Earnings per share for the fiscal year are expected to increase by 13.10%, and 50.00% over the next financial year. EPS over the next five years should compared to 32.10% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Novus Therapeutics Inc. (NVUS) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the NVUS, a number of firms have released research notes about the stock. Ladenburg Thalmann stated their Neutral rating for the stock in a research note on June 02, 2020. Ascendiant Capital Markets coverage for the Novus Therapeutics Inc. (NVUS) stock in a research note released on February 13, 2018 offered a Buy rating with a price target of $7.


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