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

StockNews.com initiated coverage on shares of Novan (NASDAQ:NOVN) in a research report released on Sunday. The brokerage issued a sell rating on the stock.

Novan Price Performance

Shares of NASDAQ:NOVN opened at $0.00 on Friday. Novan has a 52-week low of $0.08 and a 52-week high of $3.33. The firm has a market cap of $22,412.00, a PE ratio of 0.00 and a beta of -0.06.

Institutional Trading of Novan

Several hedge funds and other institutional investors have recently made changes to their positions in NOVN. Citadel Advisors LLC acquired a new stake in Novan during the 3rd quarter worth approximately $33,000. Two Sigma Securities LLC bought a new stake in shares of Novan in the 1st quarter valued at about $50,000. Goldman Sachs Group Inc. acquired a new stake in shares of Novan in the first quarter valued at about $113,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Novan during the third quarter worth about $165,000. Finally, State Street Corp lifted its stake in shares of Novan by 9.2% in the first quarter. State Street Corp now owns 54,668 shares of the company’s stock worth $215,000 after acquiring an additional 4,592 shares during the period. 14.51% of the stock is currently owned by institutional investors.

Novan Company Profile

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.