NanoViricides (NYSE:NNVC) Trading Up 0.7% – Time to Buy?

NanoViricides, Inc. (NYSE:NNVC) shares shot up 0.7% during trading on Friday . The stock traded as high as $1.44 and last traded at $1.40. 141,523 shares changed hands during trading, a decline of 40% from the average session volume of 237,727 shares. The stock had previously closed at $1.39.

NanoViricides Price Performance

The firm has a market capitalization of $22.50 million, a P/E ratio of -1.94 and a beta of 0.88. The company’s 50 day moving average price is $1.43 and its 200 day moving average price is $1.33.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of NanoViricides during the first quarter worth $26,000. XTX Topco Ltd acquired a new stake in NanoViricides in the first quarter worth about $60,000. Virtu Financial LLC acquired a new position in NanoViricides during the 4th quarter valued at about $91,000. Geode Capital Management LLC lifted its position in NanoViricides by 28.7% during the 4th quarter. Geode Capital Management LLC now owns 143,313 shares of the company’s stock valued at $205,000 after purchasing an additional 31,956 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of NanoViricides by 26.8% during 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. 10.30% of the stock is currently owned by institutional investors.

NanoViricides Company Profile

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.