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

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

Wall Street Analysts Forecast Growth

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

NanoViricides Price Performance

The stock has a fifty day moving average price of $1.26 and a two-hundred day moving average price of $1.41. The company has a market cap of $19.24 million, a P/E ratio of -1.71 and a beta of 1.14.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its stake in shares of NanoViricides by 44.8% during the third quarter. Integrated Wealth Concepts LLC now owns 53,335 shares of the company’s stock valued at $80,000 after acquiring an additional 16,500 shares during the period. Virtu Financial LLC bought a new position in NanoViricides during the fourth quarter valued at about $91,000. Geode Capital Management LLC grew its holdings in NanoViricides by 28.7% during the fourth quarter. Geode Capital Management LLC now owns 143,313 shares of the company’s stock worth $205,000 after acquiring an additional 31,956 shares during the period. Finally, Renaissance Technologies LLC raised its position in NanoViricides by 26.8% in the fourth 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. 10.30% of the stock is 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.