NanoViricides (NYSE:NNVC) Trading Down 5% – Here’s Why

NanoViricides, Inc. (NYSE:NNVC) shares were down 5% on Tuesday . The company traded as low as $1.48 and last traded at $1.53. Approximately 1,337,080 shares were traded during trading, an increase of 52% from the average daily volume of 880,566 shares. The stock had previously closed at $1.61.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of NanoViricides from a “hold” rating to a “sell” rating in a report on Monday, November 18th.

NanoViricides Price Performance

The firm’s fifty day moving average price is $1.43 and its 200-day moving average price is $1.64. The company has a market cap of $19.38 million, a price-to-earnings ratio of -1.83 and a beta of 0.90.

Hedge Funds Weigh In On NanoViricides

A hedge fund recently raised its stake in NanoViricides stock. Integrated Wealth Concepts LLC increased its position in shares of NanoViricides, Inc. (NYSE:NNVC) by 44.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,335 shares of the company’s stock after purchasing an additional 16,500 shares during the period. Integrated Wealth Concepts LLC owned 0.38% of NanoViricides worth $80,000 at the end of the most recent quarter. 10.30% of the stock is owned by institutional investors and hedge funds.

About NanoViricides

NanoViricides, Inc, a clinical stage nano-biopharmaceutical company, discovers, develops, and commercializes drugs for the treatment of viral infections. The company's product portfolio includes NV-CoV-2, nanoviricide drug which is in phase 1a/1b clinical trails for the treatment of Covid; and NV-CoV-2 Oral Syrup, and NV-CoV-2 Oral Gummies, a semi-solid fixed-dose form which are in phase 1a/1b human clinical trials for enabling body-weight-based dose titration as is required for pediatric cases.