Novus Therapeutics Inc (NASDAQ:NVUS)’s share price rose 5.1% on Monday . The stock traded as high as $5.47 and last traded at $4.50. Approximately 5,457 shares were traded during trading, a decline of 98% from the average daily volume of 278,243 shares. The stock had previously closed at $4.28.

Separately, ValuEngine raised Novus Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd.

Novus Therapeutics (NASDAQ:NVUS) last posted its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03).

A hedge fund recently raised its stake in Novus Therapeutics stock. Derby & Company Inc. lifted its stake in Novus Therapeutics Inc (NASDAQ:NVUS) by 60.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,545 shares of the biopharmaceutical company’s stock after purchasing an additional 11,111 shares during the period. Derby & Company Inc. owned 0.31% of Novus Therapeutics worth $149,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 41.19% of the company’s stock.

About Novus Therapeutics (NASDAQ:NVUS)

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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