NanoViricides (NYSE:NNVC) Trading Down 4.8% – What’s Next?

NanoViricides, Inc. (NYSE:NNVC)’s stock price was down 4.8% during mid-day trading on Monday . The company traded as low as $0.9802 and last traded at $0.9803. Approximately 174,553 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 280,587 shares. The stock had previously closed at $1.03.

Wall Street Analyst Weigh In

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

NanoViricides Price Performance

The stock has a market capitalization of $20.45 million, a P/E ratio of -1.32 and a beta of 1.30. The company’s 50-day simple moving average is $1.03 and its 200-day simple moving average is $1.26.

Institutional Investors Weigh In On NanoViricides

Hedge funds have recently bought and sold shares of the company. Armistice Capital LLC bought a new position in NanoViricides during the fourth quarter worth about $1,546,000. State Street Corp raised its stake in NanoViricides by 29.4% in the fourth quarter. State Street Corp now owns 54,206 shares of the company’s stock valued at $61,000 after buying an additional 12,300 shares during the period. Jane Street Group LLC acquired a new stake in shares of NanoViricides in the fourth quarter valued at approximately $140,000. Miller Financial Services LLC acquired a new stake in shares of NanoViricides in the fourth quarter valued at approximately $81,000. Finally, Geode Capital Management LLC boosted its stake in shares of NanoViricides by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 174,371 shares of the company’s stock worth $197,000 after acquiring an additional 14,944 shares during the period. 10.30% of the stock is currently owned by institutional investors and hedge funds.

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.