NanoViricides (NYSE:NNVC) Trading Down 5% – Should You Sell?

NanoViricides, Inc. (NYSE:NNVC) dropped 5% during mid-day trading on Tuesday . The company traded as low as $1.48 and last traded at $1.53. Approximately 1,337,080 shares were traded during mid-day trading, an increase of 52% from the average daily volume of 880,566 shares. The stock had previously closed at $1.61.

Analyst Ratings Changes

Separately, StockNews.com lowered 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 $21.34 million, a price-to-earnings ratio of -2.01 and a beta of 0.90. The firm’s 50 day simple moving average is $1.43 and its 200-day simple moving average is $1.64.

Institutional Investors Weigh In On NanoViricides

A hedge fund recently raised its stake in NanoViricides stock. Integrated Wealth Concepts LLC boosted its position in NanoViricides, Inc. (NYSE:NNVC) by 44.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,335 shares of the company’s stock after purchasing an additional 16,500 shares during the period. Integrated Wealth Concepts LLC owned about 0.38% of NanoViricides worth $80,000 as of its most recent filing with the Securities & Exchange Commission. 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.