NanoViricides (NYSE:NNVC) Rating Lowered to Sell at StockNews.com

NanoViricides (NYSE:NNVC) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

NanoViricides Trading Up 4.5 %

NYSE NNVC traded up $0.05 on Monday, reaching $1.29. The company’s stock had a trading volume of 221,966 shares, compared to its average volume of 178,418. The firm has a market cap of $17.93 million, a PE ratio of -1.69 and a beta of 0.96. NanoViricides has a 52 week low of $1.00 and a 52 week high of $3.59. The business has a 50-day moving average price of $1.47 and a 200 day moving average price of $1.82.

NanoViricides (NYSE:NNVC) last posted its earnings results on Friday, September 27th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01.

Hedge Funds Weigh In On NanoViricides

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Moss Adams Wealth Advisors LLC acquired a new position in NanoViricides during the second quarter worth $26,000. Integrated Wealth Concepts LLC boosted its position in NanoViricides by 44.8% during the third 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 period. Finally, Renaissance Technologies LLC lifted its holdings in shares of NanoViricides by 20.8% in the second quarter. Renaissance Technologies LLC now owns 102,100 shares of the company’s stock worth $176,000 after buying an additional 17,600 shares in the last quarter. 10.30% of the stock is currently owned by institutional investors and hedge funds.

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.