Novan Inc (NASDAQ:NOVN)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $3.40 and last traded at $4.24, with a volume of 19900 shares. The stock had previously closed at $4.30.

NOVN has been the subject of a number of recent research reports. ValuEngine raised shares of Novan from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. Zacks Investment Research raised shares of Novan from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, Wedbush restated a “neutral” rating and issued a $6.00 target price on shares of Novan in a report on Monday, September 25th.

The company has a market cap of $42.58 and a price-to-earnings ratio of -1.56.

An institutional investor recently bought a new position in Novan stock. Goldman Sachs Group Inc. bought a new position in Novan Inc (NASDAQ:NOVN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 25,972 shares of the company’s stock, valued at approximately $105,000. Goldman Sachs Group Inc. owned about 0.16% of Novan at the end of the most recent quarter. Institutional investors own 5.84% of the company’s stock.

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Novan Company Profile

Novan, Inc is a late-stage pharmaceutical company. The Company is engaged in the development and commercialization of therapies using its nitric oxide platform. The Company develops product candidates using its Nitricil technology, which enables the Company to engineer tunable new chemical entities (NCEs).

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