NanoViricides (NYSE:NNVC) Shares Down 4% – Here’s Why

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

Analyst Ratings Changes

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

NanoViricides Stock Performance

The business has a 50 day simple moving average of $1.43 and a two-hundred day simple moving average of $1.46. The firm has a market capitalization of $25.88 million, a P/E ratio of -1.67 and a beta of 1.16.

Hedge Funds Weigh In On NanoViricides

A hedge fund recently raised its stake in NanoViricides stock. Susquehanna International Group LLP grew its stake in shares of NanoViricides, Inc. (NYSE:NNVC) by 37.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,217 shares of the company’s stock after buying an additional 14,217 shares during the quarter. Susquehanna International Group LLP owned 0.29% of NanoViricides worth $75,000 at the end of the most recent quarter. 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.