NanoViricides (NYSE:NNVC) Trading Up 1.7% – Should You Buy?

NanoViricides, Inc. (NYSE:NNVC) was up 1.7% during mid-day trading on Friday . The stock traded as high as $1.28 and last traded at $1.23. Approximately 86,721 shares traded hands during trading, a decline of 66% from the average daily volume of 254,003 shares. The stock had previously closed at $1.21.

Wall Street Analyst Weigh In

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

NanoViricides Price Performance

The company has a market cap of $19.24 million, a P/E ratio of -1.71 and a beta of 1.14. The company has a fifty day simple moving average of $1.26 and a 200-day simple moving average of $1.41.

Institutional Trading of NanoViricides

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its stake in NanoViricides by 44.8% during 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. Renaissance Technologies LLC raised its stake in NanoViricides by 26.8% during the 4th 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 during the period. Geode Capital Management LLC increased its stake in shares of NanoViricides by 28.7% in the fourth 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 during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of NanoViricides in the fourth quarter worth $91,000. 10.30% of the stock is owned by institutional investors and hedge funds.

About NanoViricides

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.