Renaissance Technologies LLC Increases Stake in Novus Therapeutics Inc (NVUS)

Renaissance Technologies LLC grew its holdings in shares of Novus Therapeutics Inc (NASDAQ:NVUS) by 78.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,588 shares of the biopharmaceutical company’s stock after buying an additional 85,712 shares during the period. Renaissance Technologies LLC’s holdings in Novus Therapeutics were worth $1,369,000 as of its most recent SEC filing.

In other Novus Therapeutics news, President Catherine C. Turkel bought 33,680 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was acquired at an average price of $4.78 per share, with a total value of $160,990.40. Following the transaction, the president now owns 61,567 shares in the company, valued at $294,290.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by insiders.

NVUS opened at $3.33 on Wednesday. The stock has a market capitalization of $32.98 million, a PE ratio of -1.45 and a beta of 0.39. Novus Therapeutics Inc has a 1 year low of $3.12 and a 1 year high of $8.61.

Novus Therapeutics (NASDAQ:NVUS) last issued its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.03). As a group, research analysts expect that Novus Therapeutics Inc will post -1.22 earnings per share for the current year.

Several equities analysts have recently issued reports on the company. LADENBURG THALM/SH SH assumed coverage on Novus Therapeutics in a research report on Tuesday, September 11th. They issued a “buy” rating and a $12.00 price target for the company. ValuEngine lowered Novus Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, September 7th.

Novus Therapeutics Company 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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