NanoViricides (NYSE:NNVC) Stock Price Down 5.6% – Time to Sell?

NanoViricides, Inc. (NYSE:NNVC)’s stock price was down 5.6% during trading on Thursday . The stock traded as low as $0.85 and last traded at $0.85. Approximately 252,830 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 297,530 shares. The stock had previously closed at $0.90.

Analysts Set New Price Targets

Separately, Alliance Global Partners assumed coverage on NanoViricides in a report on Tuesday, December 16th. They issued a “buy” rating for the company. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

NanoViricides Price Performance

The business’s fifty day simple moving average is $1.16 and its two-hundred day simple moving average is $1.38. The company has a market cap of $18.33 million, a PE ratio of -1.18 and a beta of 1.32.

Hedge Funds Weigh In On NanoViricides

A hedge fund recently raised its stake in NanoViricides stock. Susquehanna International Group LLP grew its holdings in NanoViricides, Inc. (NYSE:NNVC) by 37.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,217 shares of the company’s stock after buying an additional 14,217 shares during the quarter. Susquehanna International Group LLP owned 0.29% of NanoViricides worth $75,000 as of its most recent SEC filing. 10.30% of the stock is owned by hedge funds and other institutional investors.

NanoViricides Company Profile

NanoViricides, Inc is a clinical-stage biotechnology company focused on the development of novel antiviral therapies using its proprietary nanomicelle technology. The company designs polymeric, virus-targeted nanoviricides that seek to neutralize viral pathogens by binding to specific viral surface proteins and destroying their structural integrity. NanoViricides’ platform is intended to offer broad-spectrum activity against a range of enveloped viruses, positioning it as a potential solution for both existing and emerging viral threats.

The company’s pipeline includes preclinical and early clinical candidates targeting seasonal and pandemic influenza strains, as well as investigational programs for coronaviruses, hepatitis, dengue, HIV and other viruses.