NanoViricides (NYSE:NNVC) Stock Price Down 5% – Should You Sell?

NanoViricides, Inc. (NYSE:NNVC)’s stock price fell 5% during mid-day trading on Tuesday . The company traded as low as $1.48 and last traded at $1.53. 1,337,080 shares were traded during trading, an increase of 52% from the average session volume of 880,566 shares. The stock had previously closed at $1.61.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of NanoViricides from a “hold” rating to a “sell” rating in a research report on Monday, November 18th.

NanoViricides Price Performance

The stock has a market capitalization of $19.38 million, a P/E ratio of -1.83 and a beta of 0.90. The stock’s fifty day moving average is $1.43 and its two-hundred day moving average is $1.64.

Hedge Funds Weigh In On NanoViricides

A hedge fund recently raised its stake in NanoViricides stock. Integrated Wealth Concepts LLC increased its holdings in shares of NanoViricides, Inc. (NYSE:NNVC) by 44.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,335 shares of the company’s stock after buying an additional 16,500 shares during the quarter. Integrated Wealth Concepts LLC owned 0.38% of NanoViricides worth $80,000 as of its most recent filing with the Securities and Exchange Commission. 10.30% of the stock is owned by institutional investors.

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.