NanoViricides Inc. [NNVC] stock Initiated by Midtown Partners analyst, price target now $5.30

NanoViricides Inc. [AMEX: NNVC] surged by $2.43 during the normal trading session on Tuesday and reaching a high of $8.71 during the day while it closed the day at $6.65. The company report on March 2, 2021 that NanoViricides, Inc. Pan-coronavirus Clinical Drug Candidates for the Treatment of COVID-19 Are Highly Effective in Pre-clinical Cell Culture Studies Performed in Preparation of FDA Pre-IND Application.

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NanoViricides, Inc. (NYSE American:NNVC) (the “Company”) a leader in the development of highly effective antiviral therapies based on a novel nanomedicine technology platform, reported on the strong pan-coronavirus effectiveness of its two COVID-19 clinical drug candidates for which the Company is preparing a pre-IND application.

NV-CoV-2 is the Company’s broad-spectrum anti-coronavirus clinical lead drug candidate for the treatment of COVID-19 patients based on its nanoviricides® platform. In addition, the Company is also developing NV-CoV-2-R, a drug treatment that combines the power of both NV-CoV-2 and remdesivir in a single drug that encapsulates and protects remdesivir inside NV-CoV-2.

NanoViricides Inc. stock has also gained 55.37% of its value over the past 7 days. However, NNVC stock has inclined by 84.72% in the 3 months of the year. Over the past six months meanwhile, it has gained 62.20% and gained 131.71% year-on date.

The market cap for NNVC stock reached $70.16 million, with 10.67 million shares outstanding and 9.55 million shares in the current float. Compared to the average trading volume of 347.06K shares, NNVC reached a trading volume of 130673246 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about NanoViricides Inc. [NNVC]:

Midtown Partners have made an estimate for NanoViricides Inc. shares, keeping their opinion on the stock as Strong Buy, with their previous recommendation back on February 11, 2015.

The Average True Range (ATR) for NanoViricides Inc. is set at 0.76 The Price to Book ratio for the last quarter was 2.56, with the Price to Cash per share for the same quarter was set at 1.74.

NNVC stock trade performance evaluation

NanoViricides Inc. [NNVC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 55.37. With this latest performance, NNVC shares gained by 64.60% in over the last four-week period, additionally plugging by 62.20% over the last 6 months – not to mention a drop of -21.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NNVC stock in for the last two-week period is set at 72.41, with the RSI for the last a single of trading hit 76.79, and the three-weeks RSI is set at 69.64 for NanoViricides Inc. [NNVC]. The present Moving Average for the last 50 days of trading for this stock 4.07, while it was recorded at 4.72 for the last single week of trading, and 4.97 for the last 200 days.

NanoViricides Inc. [NNVC]: An insightful look at the core fundamentals

Return on Total Capital for NNVC is now -47.74, given the latest momentum, and Return on Invested Capital for the company is -83.11. Return on Equity for this stock declined to -83.11, with Return on Assets sitting at -71.98. When it comes to the capital structure of this company, NanoViricides Inc. [NNVC] has a Total Debt to Total Equity ratio set at 5.26. Additionally, NNVC Total Debt to Total Capital is recorded at 5.00, with Total Debt to Total Assets ending up at 4.79.

Reflecting on the efficiency of the workforce at the company, NanoViricides Inc. [NNVC] managed to generate an average of -$790,973 per employee.NanoViricides Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 54.50 and a Current Ratio set at 54.50.

NanoViricides Inc. [NNVC]: Insider Ownership positions

There are presently around $3 million, or 6.10% of NNVC stock, in the hands of institutional investors. The top three institutional holders of NNVC stocks are: BLACKROCK INC. with ownership of 226,628, which is approximately -11.454% of the company’s market cap and around 10.49% of the total institutional ownership; VANGUARD GROUP INC, holding 93,528 shares of the stock with an approximate value of $0.4 million in NNVC stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.32 million in NNVC stock with ownership of nearly New of the company’s market capitalization.

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Positions in NanoViricides Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 11 institutional holders increased their position in NanoViricides Inc. [AMEX:NNVC] by around 120,657 shares. Additionally, 21 investors decreased positions by around 254,125 shares, while 8 investors held positions by with 272,409 shares. The mentioned changes placed institutional holdings at 647,191 shares, according to the latest SEC report filing. NNVC stock had 6 new institutional investments in for a total of 99,214 shares, while 13 institutional investors sold positions of 180,991 shares during the same period.

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