VirnetX (NYSE:VHC) Shares Cross Above 200 Day Moving Average – Here’s What Happened

VirnetX Holding Corp (NYSE:VHC)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.67 and traded as high as $20.97. VirnetX shares last traded at $20.32, with a volume of 10,834 shares.

VirnetX Stock Up 5.1%

The stock has a 50-day moving average of $19.76 and a 200 day moving average of $18.67. The company has a market capitalization of $86.79 million, a PE ratio of -4.23 and a beta of 2.15.

Institutional Trading of VirnetX

A number of large investors have recently added to or reduced their stakes in VHC. Vanguard Group Inc. raised its position in VirnetX by 2.9% in the third quarter. Vanguard Group Inc. now owns 172,337 shares of the technology company’s stock worth $2,947,000 after acquiring an additional 4,815 shares during the period. Csenge Advisory Group raised its holdings in shares of VirnetX by 44.1% in the 3rd quarter. Csenge Advisory Group now owns 59,968 shares of the technology company’s stock worth $1,079,000 after purchasing an additional 18,353 shares during the period. Geode Capital Management LLC raised its holdings in shares of VirnetX by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the technology company’s stock worth $351,000 after purchasing an additional 1,318 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in VirnetX by 9,676.5% in the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the technology company’s stock valued at $85,000 after purchasing an additional 4,935 shares during the last quarter. Hedge funds and other institutional investors own 10.37% of the company’s stock.

VirnetX Company Profile

VirnetX Holding Corporation (NYSE: VHC) is a patent licensing and technology development company specializing in secure communications and networking. The company’s core business centers on the design, development and monetization of patented software solutions that enable secure domain name system (SDNS) protocols, end-to-end encryption, and real-time collaboration across voice, video and messaging services.

At the heart of VirnetX’s offerings is its proprietary “GABRIEL” technology, an SDNS platform that underpins encrypted voice-over-IP (VoIP), video conferencing and secure messaging applications.