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

NanoViricides, Inc. (NYSE:NNVC)’s stock price dropped 5% during 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 downgraded shares of NanoViricides from a “hold” rating to a “sell” rating in a research report on Monday, November 18th.

NanoViricides Stock Down 5.0 %

The company has a market capitalization of $21.34 million, a PE ratio of -2.01 and a beta of 0.90. The stock’s fifty day simple moving average is $1.43 and its 200-day simple moving average is $1.64.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NanoViricides stock. Renaissance Technologies LLC lifted its holdings in shares of NanoViricides, Inc. (NYSE:NNVC) by 20.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,100 shares of the company’s stock after purchasing an additional 17,600 shares during the period. Renaissance Technologies LLC owned about 0.86% of NanoViricides worth $176,000 as of its most recent SEC filing. 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.