StockNews.com Initiates Coverage on NanoViricides (NYSE:NNVC)

Investment analysts at StockNews.com began coverage on shares of NanoViricides (NYSE:NNVC) in a research note issued on Monday. The firm set a “sell” rating on the stock.

NanoViricides Price Performance

NYSE:NNVC opened at $1.18 on Monday. The firm has a market capitalization of $13.90 million, a price-to-earnings ratio of -1.46 and a beta of 0.68. The company’s 50-day moving average is $1.22 and its two-hundred day moving average is $1.16. NanoViricides has a 1-year low of $1.00 and a 1-year high of $2.00.

NanoViricides (NYSE:NNVC) last posted its earnings results on Wednesday, February 14th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01.

Institutional Investors Weigh In On NanoViricides

A number of institutional investors and hedge funds have recently made changes to their positions in NNVC. Northern Trust Corp increased its stake in NanoViricides by 60.4% during the 4th quarter. Northern Trust Corp now owns 29,664 shares of the company’s stock worth $30,000 after buying an additional 11,170 shares during the period. Two Sigma Securities LLC purchased a new stake in NanoViricides during the 2nd quarter worth approximately $28,000. Renaissance Technologies LLC increased its stake in NanoViricides by 10.6% during the 2nd quarter. Renaissance Technologies LLC now owns 78,600 shares of the company’s stock worth $90,000 after buying an additional 7,506 shares during the period. Millennium Management LLC increased its stake in NanoViricides by 59.1% during the 4th quarter. Millennium Management LLC now owns 67,346 shares of the company’s stock worth $75,000 after buying an additional 25,012 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in NanoViricides during the 3rd quarter worth approximately $59,000. 10.30% of the stock is owned by hedge funds and other 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.