BioVie (NASDAQ:BIVI) Announces Earnings Results

BioVie (NASDAQ:BIVI) released its quarterly earnings results on Friday. The company reported ($0.68) earnings per share for the quarter, FiscalAI reports.

BioVie Stock Up 9.9%

Shares of BIVI stock traded up $0.12 on Friday, reaching $1.33. 175,812 shares of the stock were exchanged, compared to its average volume of 1,527,929. The stock has a market cap of $11.55 million, a P/E ratio of -0.42 and a beta of 0.78. The firm has a 50 day moving average of $1.59 and a two-hundred day moving average of $1.52. BioVie has a 1-year low of $0.82 and a 1-year high of $3.79.

Analyst Upgrades and Downgrades

BIVI has been the subject of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research note on Thursday, October 15th. Wall Street Zen cut shares of BioVie from a “hold” rating to a “sell” rating in a research note on Monday, October 19th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, BioVie currently has a consensus rating of “Sell”.

Insiders Place Their Bets

In other news, CEO Cuong Do purchased 15,210 shares of the stock in a transaction on Thursday, August 27th. The stock was purchased at an average price of $2.08 per share, with a total value of $31,636.80. Following the completion of the transaction, the chief executive officer owned 16,117 shares in the company, valued at approximately $33,523.36. The trade was a 1,676.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 23,280 shares of company stock valued at $49,118 in the last 90 days. 16.70% of the stock is currently owned by company insiders.

Institutional Trading of BioVie

A hedge fund recently raised its stake in BioVie stock. Renaissance Technologies LLC raised its stake in BioVie Inc. (NASDAQ:BIVI) by 142.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,918 shares of the company’s stock after purchasing an additional 39,900 shares during the quarter. Renaissance Technologies LLC owned about 0.90% of BioVie worth $95,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

BioVie Company Profile

BioVie Inc is a clinical-stage biopharmaceutical company focused on developing therapies for neurological, neurodegenerative and inflammatory diseases. Its research programs are aimed at addressing disease mechanisms such as chronic inflammation, insulin resistance and impaired cellular signaling.

The company’s lead investigational product, bezisterim (also known as NE3107), is an orally administered, blood-brain barrier-penetrating small molecule being studied for potential use in disorders including Alzheimer’s disease and Parkinson’s disease.