StockNews.com Begins Coverage on Novan (NASDAQ:NOVN)

StockNews.com assumed coverage on shares of Novan (NASDAQ:NOVN) in a research report sent to investors on Monday morning. The brokerage issued a sell rating on the stock.

Novan Price Performance

NOVN stock opened at $0.00 on Monday. The stock has a market cap of $22,412.00, a PE ratio of 0.00 and a beta of -0.06. Novan has a fifty-two week low of $0.08 and a fifty-two week high of $3.33.

Institutional Trading of Novan

Institutional investors and hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new stake in Novan during the third quarter worth approximately $33,000. Goldman Sachs Group Inc. bought a new position in shares of Novan in the 1st quarter valued at $113,000. Two Sigma Securities LLC bought a new position in shares of Novan in the 1st quarter valued at $50,000. State Street Corp lifted its stake in shares of Novan by 9.2% in the 1st quarter. State Street Corp now owns 54,668 shares of the company’s stock valued at $215,000 after acquiring an additional 4,592 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Novan in the 3rd quarter valued at $165,000. Institutional investors own 14.51% of the company’s stock.

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.