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

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

BioVie Trading Down 1.4%

Shares of BIVI stock opened at $2.16 on Friday. The stock has a 50 day simple moving average of $1.71 and a 200-day simple moving average of $1.54. The company has a market cap of $18.25 million, a price-to-earnings ratio of -0.69 and a beta of 0.60. BioVie Inc. has a 12-month low of $0.82 and a 12-month high of $3.79.

BioVie (NASDAQ:BIVI) last posted its quarterly 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).

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a research report on Friday, July 17th. Wall Street Zen upgraded shares of BioVie to a “sell” rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, BioVie presently has an average rating of “Sell”.

Hedge Funds Weigh In On BioVie

Hedge funds have recently bought and sold shares of the company. Prelude Capital Management LLC acquired a new position in BioVie during the third quarter worth $275,000. Prosperity Wealth Management Inc. acquired a new stake in BioVie in the third quarter valued at $273,000. DRW Securities LLC acquired a new stake in BioVie in the fourth quarter valued at $149,000. Citadel Advisors LLC purchased a new position in shares of BioVie in the third quarter valued at $199,000. Finally, Renaissance Technologies LLC increased its position in shares of BioVie by 142.4% in the first quarter. Renaissance Technologies LLC now owns 67,918 shares of the company’s stock valued at $95,000 after buying an additional 39,900 shares in the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.