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

Equities researchers at StockNews.com assumed coverage on shares of Novan (NASDAQ:NOVN) in a research report issued on Monday. The brokerage set a “sell” rating on the stock.

Novan Stock Performance

Shares of NASDAQ NOVN opened at $0.00 on Monday. Novan has a 52 week low of $0.08 and a 52 week high of $3.33. The company has a market capitalization of $22,412.00, a P/E ratio of 0.00 and a beta of -0.06.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NOVN. B. Riley Wealth Advisors Inc. raised its stake in shares of Novan by 20.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 187,000 shares of the company’s stock worth $243,000 after buying an additional 32,000 shares during the period. Armistice Capital LLC acquired a new position in shares of Novan during the 1st quarter worth approximately $2,921,000. Two Sigma Securities LLC acquired a new position in shares of Novan during the 1st quarter worth approximately $50,000. Wealthsource Partners LLC acquired a new position in shares of Novan during the 3rd quarter worth approximately $291,000. Finally, Citadel Advisors LLC acquired a new position in shares of Novan during the 3rd quarter worth approximately $33,000. 14.51% of the stock is owned by institutional investors and hedge funds.

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.