NanoViricides (NYSE:NNVC) Stock Price Down 5.6% – Here’s What Happened

NanoViricides, Inc. (NYSE:NNVC)’s stock price was down 5.6% during mid-day trading on Thursday . The stock traded as low as $0.85 and last traded at $0.85. Approximately 252,830 shares traded hands 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.

Analyst Upgrades and Downgrades

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

NanoViricides Stock Performance

The business has a 50 day simple moving average of $1.16 and a 200-day simple moving average of $1.38. The firm has a market cap of $18.98 million, a price-to-earnings ratio of -1.22 and a beta of 1.32.

Institutional Investors Weigh In On NanoViricides

An institutional investor recently raised its position in NanoViricides stock. Susquehanna International Group LLP grew its position in shares of NanoViricides, Inc. (NYSE:NNVC) by 37.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,217 shares of the company’s stock after acquiring 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 filing with the Securities and Exchange Commission (SEC). 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.