NanoViricides (NYSE:NNVC) Trading Down 1.8% – Here’s Why

NanoViricides, Inc. (NYSE:NNVCGet Free Report) shares were down 1.8% on Wednesday . The company traded as low as $1.05 and last traded at $1.08. Approximately 189,999 shares traded hands during trading, a decline of 60% from the average daily volume of 473,750 shares. The stock had previously closed at $1.10.

Analyst Ratings Changes

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

Get Our Latest Report on NanoViricides

NanoViricides Price Performance

The firm has a 50-day simple moving average of $1.37 and a 200-day simple moving average of $1.58. The firm has a market capitalization of $15.07 million, a PE ratio of -1.42 and a beta of 0.90.

Hedge Funds Weigh In On NanoViricides

An institutional investor recently raised its position in NanoViricides stock. Integrated Wealth Concepts LLC boosted its stake in shares of NanoViricides, Inc. (NYSE:NNVCFree Report) by 44.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter. 10.30% of the stock is currently owned by institutional investors and hedge funds.

About NanoViricides

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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.

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