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

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

Analyst Upgrades and Downgrades

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

NanoViricides Price Performance

The business’s 50 day moving average is $1.33 and its 200-day moving average is $1.48. The company has a market cap of $23.46 million, a PE ratio of -2.08 and a beta of 1.35.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its stake in NanoViricides by 44.8% in the third quarter. Integrated Wealth Concepts LLC now owns 53,335 shares of the company’s stock worth $80,000 after acquiring an additional 16,500 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of NanoViricides by 26.8% during the 4th quarter. Renaissance Technologies LLC now owns 145,700 shares of the company’s stock worth $208,000 after buying an additional 30,800 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NanoViricides by 28.7% during the 4th quarter. Geode Capital Management LLC now owns 143,313 shares of the company’s stock worth $205,000 after buying an additional 31,956 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of NanoViricides during the 4th quarter worth approximately $91,000. Hedge funds and other institutional investors own 10.30% of the company’s stock.

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.