NanoViricides (NYSE:NNVC) Stock Price Up 5% – Time to Buy?

NanoViricides, Inc. (NYSE:NNVC)’s stock price shot up 5% during mid-day trading on Friday . The company traded as high as $1.05 and last traded at $1.05. 207,916 shares were traded during mid-day trading, a decline of 26% from the average session volume of 280,936 shares. The stock had previously closed at $1.00.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners initiated coverage on NanoViricides in a research note 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 MarketBeat, NanoViricides has a consensus rating of “Buy”.

NanoViricides Price Performance

The firm has a market cap of $22.67 million, a price-to-earnings ratio of -1.46 and a beta of 1.32. The firm has a fifty day simple moving average of $1.09 and a two-hundred day simple moving average of $1.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NNVC. State Street Corp grew its holdings in shares of NanoViricides by 29.4% during the fourth quarter. State Street Corp now owns 54,206 shares of the company’s stock valued at $61,000 after buying an additional 12,300 shares during the last quarter. Susquehanna International Group LLP lifted its position in NanoViricides by 37.4% during the 3rd quarter. Susquehanna International Group LLP now owns 52,217 shares of the company’s stock worth $75,000 after acquiring an additional 14,217 shares during the period. Miller Financial Services LLC acquired a new stake in NanoViricides during the 4th quarter worth about $81,000. Jane Street Group LLC purchased a new stake in NanoViricides during the 4th quarter valued at about $140,000. Finally, Geode Capital Management LLC increased its holdings in shares of NanoViricides by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 174,371 shares of the company’s stock valued at $197,000 after purchasing an additional 14,944 shares during the period. Hedge funds and other institutional investors own 10.30% of the company’s stock.

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.