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

BioVie Inc. (NASDAQ:BIVI) insider Joseph Palumbo acquired 4,843 shares of the stock in a transaction dated Friday, August 28th. The stock was bought at an average cost of $2.16 per share, with a total value of $10,460.88. Following the completion of the purchase, the insider directly owned 6,036 shares in the company, valued at approximately $13,037.76. The trade was a 405.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

BioVie Price Performance

Shares of BioVie stock traded down $0.03 on Friday, reaching $2.16. The company had a trading volume of 483,161 shares, compared to its average volume of 14,005,157. The firm has a market cap of $18.25 million, a price-to-earnings ratio of -0.69 and a beta of 0.60. The firm’s 50-day moving average price is $1.71 and its two-hundred day moving average price is $1.54. BioVie Inc. has a 1 year low of $0.82 and a 1 year high of $3.79.

BioVie (NASDAQ:BIVI) last released 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).

Institutional Investors Weigh In On BioVie

Several hedge funds and other institutional investors have recently modified their holdings of BIVI. XTX Topco Ltd bought a new stake in shares of BioVie during the 4th quarter worth approximately $25,000. NewEdge Advisors LLC grew its position in BioVie by 283.7% in the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock valued at $53,000 after acquiring an additional 40,000 shares during the last quarter. Jane Street Group LLC purchased a new stake in BioVie in the second quarter worth $57,000. Two Sigma Investments LP purchased a new stake in BioVie in the third quarter worth $62,000. Finally, Squarepoint Ops LLC purchased a new stake in BioVie in the third quarter worth $63,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BIVI. Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research note on Friday, July 17th. Wall Street Zen raised shares of BioVie to a “sell” rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

About BioVie

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.