NanoViricides (NYSE:NNVC) Trading Up 1.7% – Time to Buy?

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

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 Stock Up 1.7 %

The company has a market capitalization of $19.24 million, a price-to-earnings ratio of -1.71 and a beta of 1.14. The firm has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.41.

Institutional Trading of NanoViricides

A number of hedge funds have recently made changes to their positions in NNVC. Integrated Wealth Concepts LLC increased its holdings in NanoViricides by 44.8% in the third quarter. Integrated Wealth Concepts LLC now owns 53,335 shares of the company’s stock valued at $80,000 after buying an additional 16,500 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of NanoViricides by 26.8% in the 4th quarter. Renaissance Technologies LLC now owns 145,700 shares of the company’s stock worth $208,000 after acquiring an additional 30,800 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NanoViricides by 28.7% in the 4th 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 bought a new stake in shares of NanoViricides in the 4th quarter valued at approximately $91,000. Institutional investors and hedge funds own 10.30% of the company’s stock.

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.