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

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

Analyst Upgrades and Downgrades

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

NanoViricides Stock Down 5.6%

The firm has a market cap of $18.33 million, a PE ratio of -1.18 and a beta of 1.32. The business has a 50 day simple moving average of $1.16 and a two-hundred day simple moving average of $1.38.

Hedge Funds Weigh In On NanoViricides

A hedge fund recently raised its stake in NanoViricides stock. Susquehanna International Group LLP lifted its stake in shares of NanoViricides, Inc. (NYSE:NNVC) by 37.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,217 shares of the company’s stock after acquiring an additional 14,217 shares during the quarter. Susquehanna International Group LLP owned approximately 0.29% of NanoViricides worth $75,000 at the end of the most recent reporting period. 10.30% of the stock is owned by 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.