7 Best Nanotech Penny Stocks to Buy

5. NanoViricides Inc. (NYSE:NNVC)

Share Price as of October 7: $1.40

Number of Hedge Fund Holders: 1

NanoViricides Inc. (NYSE:NNVC) is a clinical-stage nano-biopharmaceutical company that develops and sells medications to treat viral infections. NV-CoV-2, a NanoViricides drug in phase 1a/1b clinical trials for treating Covid-19. It is one of the best nanotech penny stocks to buy for exposure in the healthcare sector.

It is one of the stocks that exploded at the height of the COVID-19 pandemic. With strong safety data for its lead candidate, NV-CoV-2, and improved liquidity measures, NanoViricides Inc. (NYSE:NNVC) reported progressing well in its antiviral drug development program. These developments position the company for future clinical trials and market expansion.

The platform technology of NanoViricides Inc. (NYSE:NNVC) provides a major advantage in stopping viral escape because it is made to resemble the cell receptors that viruses use. Additionally, the business increased its manufacturing capacity to accommodate impending clinical trials.

The company’s antiviral drug NV-387 has shown remarkable broad-spectrum activity against various virus groups in fatal animal experiments that compared NV-387 to existing medications. It has already proven to be effective against Coronavirus infection, RSV infection, and Ectromelia virus infections related to Smallpox/Mpox in animal studies.

As of the end of the second quarter of 2024, one hedge fund tracked by Insider Monkey had stakes in NanoViricides Inc. (NYSE:NNVC). The most notable stakeholder of NanoViricides Inc. (NYSE:NNVC) was Renaissance Technologies of Jim Simons, with 102,100 shares