NanoViricides (NYSE:NNVC) Trading 5.8% Higher – Time to Buy?

NanoViricides, Inc. (NYSE:NNVC) shares traded up 5.8% on Thursday . The stock traded as high as $1.55 and last traded at $1.45. 492,969 shares were traded during trading, an increase of 21% from the average session volume of 405,891 shares. The stock had previously closed at $1.37.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered NanoViricides from a “hold” rating to a “sell” rating in a research report on Monday, November 18th.

NanoViricides Trading Up 5.8 %

The company has a fifty day simple moving average of $1.33 and a 200-day simple moving average of $1.49. The stock has a market cap of $22.68 million, a price-to-earnings ratio of -2.01 and a beta of 1.35.

Hedge Funds Weigh In On NanoViricides

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNVC. Renaissance Technologies LLC lifted its holdings in shares of NanoViricides by 26.8% in the fourth quarter. Renaissance Technologies LLC now owns 145,700 shares of the company’s stock valued at $208,000 after purchasing an additional 30,800 shares in the last quarter. Geode Capital Management LLC lifted its stake in NanoViricides by 28.7% in the 4th quarter. Geode Capital Management LLC now owns 143,313 shares of the company’s stock worth $205,000 after acquiring an additional 31,956 shares in the last quarter. Virtu Financial LLC purchased a new position in NanoViricides during the 4th quarter valued at about $91,000. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of NanoViricides by 44.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 53,335 shares of the company’s stock valued at $80,000 after purchasing an additional 16,500 shares during the period. 10.30% of the stock is currently owned by hedge funds and other institutional investors.

NanoViricides Company Profile

NanoViricides, Inc, a clinical stage nano-biopharmaceutical company, discovers, develops, and commercializes drugs for the treatment of viral infections. The company's product portfolio includes NV-CoV-2, nanoviricide drug which is in phase 1a/1b clinical trails for the treatment of Covid; and NV-CoV-2 Oral Syrup, and NV-CoV-2 Oral Gummies, a semi-solid fixed-dose form which are in phase 1a/1b human clinical trials for enabling body-weight-based dose titration as is required for pediatric cases.