NanoViricides (NYSE:NNVC) Stock Price Down 1.5% – Time to Sell?

NanoViricides, Inc. (NYSE:NNVC) was down 1.5% on Wednesday . The stock traded as low as $1.3116 and last traded at $1.34. Approximately 119,815 shares traded hands during trading, a decline of 80% from the average daily volume of 607,046 shares. The stock had previously closed at $1.36.

NanoViricides Price Performance

The stock has a market capitalization of $30.80 million, a P/E ratio of -1.86 and a beta of 1.66. The firm has a 50-day simple moving average of $1.40 and a 200 day simple moving average of $1.20.

Hedge Funds Weigh In On NanoViricides

A number of hedge funds have recently made changes to their positions in NNVC. State Street Corp boosted its position in 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 acquiring an additional 12,300 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in NanoViricides by 37.4% in the third 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 in the last quarter. Miller Financial Services LLC bought a new position in NanoViricides in the fourth quarter worth approximately $81,000. Jane Street Group LLC acquired a new stake in NanoViricides in the fourth quarter valued at approximately $140,000. Finally, Geode Capital Management LLC raised its position in shares of NanoViricides by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 174,371 shares of the company’s stock worth $197,000 after purchasing an additional 14,944 shares during the period. 10.30% of the stock is currently owned by institutional investors.

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.