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

NanoViricides, Inc. (NYSE:NNVC)’s stock price shot up 5.8% on Thursday . The stock 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 company’s 50 day moving average price is $1.33 and its two-hundred day moving average price is $1.48. The stock has a market capitalization of $23.46 million, a PE ratio of -2.08 and a beta of 1.35.

Institutional Investors Weigh In On NanoViricides

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in NanoViricides by 44.8% during the third quarter. Integrated Wealth Concepts LLC now owns 53,335 shares of the company’s stock worth $80,000 after purchasing an additional 16,500 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of NanoViricides by 26.8% during the fourth quarter. Renaissance Technologies LLC now owns 145,700 shares of the company’s stock valued at $208,000 after acquiring an additional 30,800 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NanoViricides by 28.7% during the fourth quarter. Geode Capital Management LLC now owns 143,313 shares of the company’s stock valued at $205,000 after acquiring an additional 31,956 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of NanoViricides during the fourth quarter valued at about $91,000. 10.30% of the stock is currently 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.