BioVie (NASDAQ:BIVI) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of BioVie (NASDAQ:BIVI) from a sell rating to a hold rating in a research report sent to investors on Sunday,Wall Street Zen reports.

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

BioVie Price Performance

NASDAQ BIVI opened at $1.39 on Friday. The company has a market cap of $12.07 million, a P/E ratio of -0.44 and a beta of 0.73. The stock has a 50-day moving average of $1.69 and a two-hundred day moving average of $1.63. BioVie has a 1-year low of $0.82 and a 1-year high of $3.79.

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

Insider Activity

In other news, CEO Cuong Do acquired 15,210 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was acquired 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. This trade represents a 1,676.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have acquired 23,280 shares of company stock worth $49,118. 16.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioVie

An institutional investor recently raised its stake in BioVie stock. Renaissance Technologies LLC raised its holdings in BioVie Inc. (NASDAQ:BIVI) by 142.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,918 shares of the company’s stock after buying an additional 39,900 shares during the period. Renaissance Technologies LLC owned about 0.90% of BioVie worth $95,000 as of its most recent SEC filing. Institutional investors and hedge funds own 4.59% of the company’s stock.

BioVie Company Profile

BioVie Inc (NASDAQ: BIVI) is a clinical-stage biopharmaceutical company focused on developing therapies for complex diseases with significant unmet medical needs. Its research programs have centered on neurodegenerative disorders, including Alzheimer’s disease and Parkinson’s disease, as well as liver diseases associated with cirrhosis.

The company’s development portfolio has included NE3107, an investigational oral therapy being studied for potential anti-inflammatory and insulin-sensitizing effects in neurodegenerative conditions.