BioVie (NASDAQ:BIVI) Stock Price Down 1% – Here’s What Happened

BioVie Inc. (NASDAQ:BIVI) shares were down 1% during mid-day trading on Wednesday . The stock traded as low as $1.87 and last traded at $1.92. Approximately 309,460 shares traded hands during trading, an increase of 102% from the average session volume of 153,381 shares. The stock had previously closed at $1.94.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research note on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

BioVie Price Performance

The stock’s fifty day simple moving average is $1.56 and its 200-day simple moving average is $1.40. The stock has a market cap of $14.48 million, a P/E ratio of -0.78 and a beta of 0.67.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Prelude Capital Management LLC bought a new stake in BioVie in the third quarter valued at $275,000. Prosperity Wealth Management Inc. bought a new position in shares of BioVie during the third quarter worth about $273,000. DRW Securities LLC acquired a new stake in shares of BioVie in the 4th quarter worth about $149,000. Citadel Advisors LLC acquired a new stake in shares of BioVie in the 3rd quarter worth about $199,000. Finally, Jane Street Group LLC bought a new stake in BioVie in the 2nd quarter valued at about $57,000. 4.59% of the stock is currently owned by institutional investors.

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.