BioVie (NASDAQ:BIVI) Stock Rating Upgraded by Wall Street Zen

BioVie (NASDAQ:BIVI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

BioVie Stock Performance

NASDAQ BIVI opened at $2.00 on Friday. The business’s 50-day moving average price is $1.73 and its two-hundred day moving average price is $1.57. BioVie has a 12 month low of $0.82 and a 12 month high of $3.79. The firm has a market capitalization of $16.90 million, a PE ratio of -0.63 and a beta of 0.74.

BioVie (NASDAQ:BIVI) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.18).

Insider Buying and Selling

In other BioVie news, CEO Cuong V. Do acquired 15,210 shares of the stock in a transaction dated Thursday, August 27th. The stock was purchased at an average cost of $2.08 per share, with a total value of $31,636.80. Following the transaction, the chief executive officer owned 16,117 shares in the company, valued at approximately $33,523.36. The trade was a 1,676.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 23,280 shares of company stock worth $49,118 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BioVie

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in BioVie by 142.4% in the first quarter. Renaissance Technologies LLC now owns 67,918 shares of the company’s stock worth $95,000 after purchasing an additional 39,900 shares in the last quarter. XTX Topco Ltd acquired a new position in BioVie in the fourth quarter valued at approximately $25,000. DRW Securities LLC bought a new position in shares of BioVie during the 4th quarter worth approximately $149,000. Prosperity Wealth Management Inc. bought a new position in shares of BioVie during the 3rd quarter worth approximately $273,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of BioVie during the 3rd quarter worth approximately $275,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

BioVie Company Profile

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.