Novan Inc. [NOVN] is 35.30% higher this YTD. Is it still time to buy?

Novan Inc. [NASDAQ: NOVN] price plunged by -3.51 percent to reach at -$0.04. The company report on May 12, 2021 that Novan Reports First Quarter 2021 Financial Results and Provides Corporate Update.

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– Topline efficacy results for ongoing Phase 3 study evaluating SB206 as a treatment for molluscum on track for targeted readout before the end of Q2 2021 –.

– Preclinical program underway evaluating SB019 with berdazimer sodium as a potential intranasal therapy for COVID-19, with results targeted for readout in Q2 2021 –.

A sum of 5725592 shares traded at recent session while its average daily volume was at 6.89M shares. Novan Inc. shares reached a high of $1.21 and dropped to a low of $1.10 until finishing in the latest session at $1.10.

Guru’s Opinion on Novan Inc. [NOVN]:

ROTH Capital have made an estimate for Novan Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 22, 2021. The new note on the price target was released on January 06, 2020, representing the official price target for Novan Inc. stock.

The Average True Range (ATR) for Novan Inc. is set at 0.13, with the Price to Sales ratio for NOVN stock in the period of the last 12 months amounting to 35.29. The Price to Book ratio for the last quarter was 110.00, with the Price to Cash per share for the same quarter was set at 0.21.

NOVN Stock Performance Analysis:

Novan Inc. [NOVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.84. With this latest performance, NOVN shares dropped by -7.56% in over the last four-week period, additionally plugging by 121.11% over the last 6 months – not to mention a rise of 205.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOVN stock in for the last two-week period is set at 39.24, with the RSI for the last a single of trading hit 36.10, and the three-weeks RSI is set at 41.78 for Novan Inc. [NOVN]. The present Moving Average for the last 50 days of trading for this stock 1.3969, while it was recorded at 1.1350 for the last single week of trading, and 0.9484 for the last 200 days.

Insight into Novan Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Novan Inc. [NOVN] shares currently have an operating margin of -531.81. Novan Inc.’s Net Margin is presently recorded at -595.39.

When it comes to the capital structure of this company, Novan Inc. [NOVN] has a Total Debt to Total Equity ratio set at 32.11. Additionally, NOVN Total Debt to Total Capital is recorded at 24.31, with Total Debt to Total Assets ending up at 2.04. Long-Term Debt to Equity for the company is recorded at 16.06, with the Long-Term Debt to Total Capital now at 12.15.

Reflecting on the efficiency of the workforce at the company, Novan Inc. [NOVN] managed to generate an average of -$1,273,609 per employee. Receivables Turnover for the company is 1.86 with a Total Asset Turnover recorded at a value of 0.13.Novan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.80 and a Current Ratio set at 4.80.

NOVN Stock EPS

With the latest financial reports released by the company, Novan Inc. posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOVN.

Novan Inc. [NOVN] Insider Position Details

There are presently around $14 million, or 9.90% of NOVN stock, in the hands of institutional investors. The top three institutional holders of NOVN stocks are: VANGUARD GROUP INC with ownership of 5,945,298, which is approximately -14.521% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 2,662,565 shares of the stock with an approximate value of $2.93 million in NOVN stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $2.01 million in NOVN stock with ownership of nearly New of the company’s market capitalization.

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Positions in Novan Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 15 institutional holders increased their position in Novan Inc. [NASDAQ:NOVN] by around 2,333,725 shares. Additionally, 15 investors decreased positions by around 2,346,631 shares, while 8 investors held positions by with 8,429,276 shares. The mentioned changes placed institutional holdings at 13,109,632 shares, according to the latest SEC report filing. NOVN stock had 7 new institutional investments in for a total of 2,073,888 shares, while 11 institutional investors sold positions of 520,432 shares during the same period.

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