NanoViricides (NYSE:NNVC) Stock Price Down 7.9% – Time to Sell?

Shares of NanoViricides, Inc. (NYSE:NNVC) dropped 7.9% on Tuesday . The stock traded as low as $1.50 and last traded at $1.51. Approximately 1,108,979 shares changed hands during mid-day trading, an increase of 247% from the average daily volume of 319,234 shares. The stock had previously closed at $1.64.

NanoViricides Price Performance

The firm has a market cap of $32.69 million, a PE ratio of -2.10 and a beta of 1.54. The company has a 50 day simple moving average of $1.24 and a 200-day simple moving average of $1.19.

Institutional Trading of NanoViricides

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Armistice Capital LLC purchased a new stake in NanoViricides in the fourth quarter worth approximately $1,546,000. State Street Corp boosted its stake in NanoViricides by 29.4% in the fourth quarter. State Street Corp now owns 54,206 shares of the company’s stock worth $61,000 after buying an additional 12,300 shares in the last quarter. Jane Street Group LLC purchased a new stake in NanoViricides in the fourth quarter worth approximately $140,000. Miller Financial Services LLC purchased a new stake in NanoViricides in the fourth quarter worth approximately $81,000. Finally, Geode Capital Management LLC boosted its stake in NanoViricides by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 174,371 shares of the company’s stock worth $197,000 after buying an additional 14,944 shares in the last quarter. Hedge funds and other institutional investors own 10.30% of the company’s stock.

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.