BioVie (NASDAQ:BIVI) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of BioVie (NASDAQ:BIVI) from a hold rating to a sell rating in a research report released on Monday morning,Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research note on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, BioVie has an average rating of “Sell”.

BioVie Stock Performance

NASDAQ BIVI opened at $1.26 on Monday. The stock has a 50 day moving average price of $1.66 and a 200-day moving average price of $1.62. BioVie has a one year low of $0.82 and a one year high of $3.79. The company has a market capitalization of $10.94 million, a P/E ratio of -0.40 and a beta of 0.73.

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

Insider Buying and Selling at BioVie

In related news, CEO Cuong Do bought 15,210 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were purchased at an average price 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 $33,523.36. This trade represents a 1,676.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 23,280 shares of company stock worth $49,118. Insiders own 16.70% of the company’s stock.

Institutional Trading of BioVie

An institutional investor recently raised its stake in BioVie stock. Renaissance Technologies LLC increased its stake in BioVie Inc. (NASDAQ:BIVI) by 142.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,918 shares of the company’s stock after buying an additional 39,900 shares during the quarter. 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.

About BioVie

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.