NanoViricides (NYSE:NNVC) Trading Down 1.5% – Here’s Why

NanoViricides, Inc. (NYSE:NNVC)’s share price dropped 1.5% during mid-day trading on Wednesday . The company traded as low as $1.3116 and last traded at $1.34. Approximately 119,815 shares changed hands during trading, a decline of 80% from the average session volume of 607,046 shares. The stock had previously closed at $1.36.

NanoViricides Stock Performance

The company has a market cap of $32.18 million, a price-to-earnings ratio of -1.94 and a beta of 1.66. The firm’s 50-day moving average price is $1.41 and its 200 day moving average price is $1.20.

Institutional Investors Weigh In On NanoViricides

A number of large investors have recently bought and sold shares of NNVC. State Street Corp increased its stake in NanoViricides by 29.4% in the fourth quarter. State Street Corp now owns 54,206 shares of the company’s stock valued at $61,000 after purchasing an additional 12,300 shares in the last quarter. Susquehanna International Group LLP boosted its position in shares of NanoViricides by 37.4% during the 3rd quarter. Susquehanna International Group LLP now owns 52,217 shares of the company’s stock worth $75,000 after purchasing an additional 14,217 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of NanoViricides by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 174,371 shares of the company’s stock valued at $197,000 after buying an additional 14,944 shares during the period. Miller Financial Services LLC acquired a new stake in shares of NanoViricides in the 4th quarter valued at about $81,000. Finally, Jane Street Group LLC bought a new stake in NanoViricides in the 4th quarter valued at about $140,000. 10.30% of the stock is currently owned by institutional investors and hedge funds.

About NanoViricides

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.