BioVie (NASDAQ:BIVI) Upgraded by Wall Street Zen to “Hold” Rating

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

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

BioVie Stock Down 1.5%

BioVie stock opened at $2.00 on Friday. The firm has a market cap of $16.90 million, a price-to-earnings ratio of -0.63 and a beta of 0.74. BioVie has a 52 week low of $0.82 and a 52 week high of $3.79. The business’s 50-day moving average price is $1.73 and its 200 day moving average price is $1.57.

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

Insider Transactions at BioVie

In related news, CEO Cuong V. Do purchased 15,210 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average price of $2.08 per share, with a total value of $31,636.80. Following the acquisition, the chief executive officer owned 16,117 shares in the company, valued at $33,523.36. The trade was a 1,676.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 23,280 shares of company stock valued at $49,118. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of BioVie

Several institutional investors have recently modified their holdings of the stock. Prelude Capital Management LLC purchased a new stake in shares of BioVie during the third quarter worth about $275,000. Prosperity Wealth Management Inc. purchased a new position in BioVie in the 3rd quarter valued at about $273,000. DRW Securities LLC purchased a new position in BioVie in the 4th quarter valued at about $149,000. Citadel Advisors LLC purchased a new position in BioVie in the 3rd quarter valued at about $199,000. Finally, Renaissance Technologies LLC boosted its holdings in BioVie by 142.4% in the 1st quarter. Renaissance Technologies LLC now owns 67,918 shares of the company’s stock worth $95,000 after buying an additional 39,900 shares during the last 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 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.