NanoViricides (NYSE:NNVC) Stock Price Down 4.8% – What’s Next?

NanoViricides, Inc. (NYSE:NNVC)’s stock price dropped 4.8% during mid-day trading on Monday . The stock traded as low as $0.9802 and last traded at $0.9803. Approximately 174,553 shares changed hands during trading, a decline of 38% from the average daily volume of 280,587 shares. The stock had previously closed at $1.03.

Analyst Ratings Changes

Separately, Alliance Global Partners started coverage on NanoViricides in a research report on Tuesday, December 16th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

NanoViricides Price Performance

The company has a fifty day simple moving average of $1.04 and a two-hundred day simple moving average of $1.27. The company has a market capitalization of $21.17 million, a P/E ratio of -1.36 and a beta of 1.30.

Institutional Investors Weigh In On NanoViricides

A number of large investors have recently added to or reduced their stakes in NNVC. Armistice Capital LLC bought a new position in shares of NanoViricides in the fourth quarter valued at approximately $1,546,000. Geode Capital Management LLC grew its stake in NanoViricides by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 174,371 shares of the company’s stock valued at $197,000 after buying an additional 14,944 shares during the last quarter. Jane Street Group LLC bought a new position in NanoViricides in the 4th quarter worth $140,000. Miller Financial Services LLC bought a new position in NanoViricides in the 4th quarter worth $81,000. Finally, State Street Corp lifted its position in NanoViricides by 29.4% during the 4th quarter. State Street Corp now owns 54,206 shares of the company’s stock worth $61,000 after acquiring an additional 12,300 shares during the last quarter. 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.