BioVie (NASDAQ:BIVI) Trading 12% Higher – Should You Buy?

Shares of BioVie Inc. (NASDAQ:BIVI) traded up 12% during mid-day trading on Wednesday . The company traded as high as $1.83 and last traded at $1.77. Approximately 285,842 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 222,864 shares. The stock had previously closed at $1.58.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, BioVie presently has a consensus rating of “Sell”.

BioVie Price Performance

The firm has a market cap of $13.50 million, a price-to-earnings ratio of -0.73 and a beta of 0.57. The firm’s fifty day moving average is $1.70 and its two-hundred day moving average is $1.46.

BioVie (NASDAQ:BIVI) last released its earnings results on Monday, May 11th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.03.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Prelude Capital Management LLC bought a new stake in BioVie during the third quarter worth approximately $275,000. Prosperity Wealth Management Inc. bought a new position in BioVie during the 3rd quarter valued at $273,000. DRW Securities LLC acquired a new position in shares of BioVie during the 4th quarter valued at $149,000. Citadel Advisors LLC acquired a new position in shares of BioVie during the 3rd quarter valued at $199,000. Finally, Renaissance Technologies LLC raised its stake in shares of 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 in 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.