BioVie (NASDAQ:BIVI) Trading Up 10.1% – Still a Buy?

BioVie Inc. (NASDAQ:BIVI) shares were up 10.1% during trading on Monday . The stock traded as high as $1.1550 and last traded at $1.10. Approximately 1,246,162 shares were traded during trading, an increase of 52% from the average session volume of 821,774 shares. The stock had previously closed at $0.9993.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioVie in a research report on Friday, July 17th. Wall Street Zen raised shares of BioVie to a “sell” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

BioVie Stock Performance

The firm has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $1.49. The firm has a market cap of $11.77 million, a price-to-earnings ratio of -0.64 and a beta of 0.60.

BioVie (NASDAQ:BIVI) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.03.

Hedge Funds Weigh In On BioVie

Several large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in BioVie during the 4th quarter worth $25,000. Two Sigma Investments LP acquired a new stake in shares of BioVie during the third quarter worth about $62,000. Squarepoint Ops LLC acquired a new stake in shares of BioVie during the third quarter worth about $63,000. Renaissance Technologies LLC grew its holdings in shares of BioVie by 142.4% during the first quarter. Renaissance Technologies LLC now owns 67,918 shares of the company’s stock worth $95,000 after buying an additional 39,900 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of BioVie by 283.7% during the first quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after buying an additional 40,000 shares during the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

About BioVie

BioVie Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for chronic liver diseases and associated neurological complications. The company’s research and development efforts center on candidates designed to address serious unmet medical needs in hepatic encephalopathy and other liver‐related disorders. BioVie advances its pipeline through controlled clinical trials and regulatory interactions in North America.

The company’s lead product candidate, BIV201, is undergoing Phase 2 clinical evaluation for the treatment of hepatic encephalopathy, a life‐threatening condition marked by elevated neurotoxins in patients with advanced liver disease.