Cuong Do Purchases 15,210 Shares of BioVie (NASDAQ:BIVI) Stock

BioVie Inc. (NASDAQ:BIVI) CEO Cuong Do acquired 15,210 shares of BioVie stock in a transaction on 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 purchase, the chief executive officer directly owned 16,117 shares of the company’s stock, valued at approximately $33,523.36. This trade represents a 1,676.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

BioVie Stock Performance

Shares of NASDAQ BIVI traded down $0.03 during midday trading on Friday, hitting $2.16. 483,161 shares of the stock traded hands, compared to its average volume of 14,005,157. The company has a market cap of $18.25 million, a PE ratio of -0.69 and a beta of 0.60. BioVie Inc. has a one year low of $0.82 and a one year high of $3.79. The business has a 50 day moving average price of $1.70 and a two-hundred day moving average price of $1.53.

BioVie (NASDAQ:BIVI) last issued its earnings results 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).

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BIVI. XTX Topco Ltd purchased a new stake in BioVie in the 4th quarter valued at $25,000. NewEdge Advisors LLC boosted its holdings in BioVie by 283.7% during the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after acquiring an additional 40,000 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of BioVie in the 2nd quarter worth $57,000. Two Sigma Investments LP bought a new stake in shares of BioVie in the 3rd quarter worth $62,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of BioVie in the third quarter valued at about $63,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analysts Set New Price Targets

BIVI has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of BioVie to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, BioVie currently has an average rating of “Sell”.

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.