NanoViricides (NYSE:NNVC) Trading 1.4% Higher – Still a Buy?

NanoViricides, Inc. (NYSE:NNVC)’s stock price shot up 1.4% on Tuesday . The company traded as high as $1.48 and last traded at $1.46. 200,166 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 234,506 shares. The stock had previously closed at $1.44.

NanoViricides Stock Up 1.4%

The business has a 50-day simple moving average of $1.51 and a two-hundred day simple moving average of $1.40. The stock has a market capitalization of $23.47 million, a P/E ratio of -2.03 and a beta of 1.15.

Hedge Funds Weigh In On NanoViricides

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new position in NanoViricides in the first quarter worth $26,000. XTX Topco Ltd acquired a new position in NanoViricides in the first quarter worth $60,000. Finally, Compagnie Lombard Odier SCmA boosted its stake in NanoViricides by 33.3% in the first quarter. Compagnie Lombard Odier SCmA now owns 200,000 shares of the company’s stock worth $234,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 10.30% of the company’s stock.

NanoViricides Company Profile

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.