NanoViricides (NYSE:NNVC) Shares Down 4% – What’s Next?

NanoViricides, Inc. (NYSE:NNVC)’s stock price was down 4% on Tuesday . The stock traded as low as $1.20 and last traded at $1.20. Approximately 149,882 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 253,914 shares. The stock had previously closed at $1.25.

Analyst Upgrades and Downgrades

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

NanoViricides Trading Down 1.2%

The firm has a market cap of $25.56 million, a PE ratio of -1.65 and a beta of 1.16. The business has a fifty day moving average price of $1.42 and a 200 day moving average price of $1.45.

Institutional Trading of NanoViricides

A hedge fund recently raised its stake in NanoViricides stock. Susquehanna International Group LLP grew its stake in NanoViricides, Inc. (NYSE:NNVC) by 37.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,217 shares of the company’s stock after buying an additional 14,217 shares during the period. Susquehanna International Group LLP owned 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 and hedge funds.

About NanoViricides

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.