NanoViricides (NYSE:NNVC) Stock Price Up 5.8% – Here’s What Happened

NanoViricides, Inc. (NYSE:NNVC) shares shot up 5.8% on Thursday . The stock traded as high as $1.55 and last traded at $1.45. 492,969 shares changed hands during trading, an increase of 21% from the average session volume of 405,891 shares. The stock had previously closed at $1.37.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of NanoViricides from a “hold” rating to a “sell” rating in a research note on Monday, November 18th.

NanoViricides Stock Up 5.8 %

The company’s 50-day simple moving average is $1.33 and its 200 day simple moving average is $1.49. The stock has a market capitalization of $22.68 million, a price-to-earnings ratio of -2.01 and a beta of 1.35.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC lifted its holdings in NanoViricides by 44.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 53,335 shares of the company’s stock worth $80,000 after purchasing an additional 16,500 shares during the last quarter. Virtu Financial LLC bought a new position in shares of NanoViricides in the fourth quarter valued at approximately $91,000. Geode Capital Management LLC lifted its stake in shares of NanoViricides by 28.7% in the fourth quarter. Geode Capital Management LLC now owns 143,313 shares of the company’s stock worth $205,000 after buying an additional 31,956 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of NanoViricides by 26.8% in the fourth quarter. Renaissance Technologies LLC now owns 145,700 shares of the company’s stock worth $208,000 after buying an additional 30,800 shares during the last quarter. Institutional investors and hedge funds own 10.30% of the company’s stock.

About NanoViricides

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.