BioVie (NASDAQ:BIVI) Insider Joseph Palumbo Buys 4,843 Shares

BioVie Inc. (NASDAQ:BIVI) insider Joseph Palumbo purchased 4,843 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $2.16 per share, with a total value of $10,460.88. Following the completion of the purchase, the insider directly owned 6,036 shares in the company, valued at $13,037.76. The trade was a 405.95% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

BioVie Stock Down 1.4%

BIVI opened at $2.16 on Friday. The business has a fifty day moving average of $1.71 and a 200 day moving average of $1.54. The stock has a market cap of $18.25 million, a P/E ratio of -0.69 and a beta of 0.60. BioVie Inc. has a 52-week low of $0.82 and a 52-week high of $3.79.

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

Institutional Investors Weigh In On BioVie

A number of institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of BioVie in the 4th quarter worth $25,000. NewEdge Advisors LLC increased its stake in shares of BioVie by 283.7% during the first quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock valued at $53,000 after buying an additional 40,000 shares during the period. Jane Street Group LLC purchased a new position in shares of BioVie during the second quarter valued at $57,000. Two Sigma Investments LP bought a new stake in shares of BioVie in the third quarter valued at about $62,000. Finally, Squarepoint Ops LLC bought a new stake in shares of BioVie in the third quarter valued at about $63,000. 4.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BIVI has been the subject of a number of research 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 research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

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.