BioVie (NASDAQ:BIVI) Upgraded at Wall Street Zen

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

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

BioVie Price Performance

Shares of NASDAQ:BIVI opened at $1.20 on Friday. The business’s fifty day moving average price is $1.68 and its two-hundred day moving average price is $1.62. BioVie has a fifty-two week low of $0.82 and a fifty-two week high of $3.79. The stock has a market capitalization of $10.42 million, a price-to-earnings ratio of -0.38 and a beta of 0.73.

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

Insider Activity at BioVie

In other news, CEO Cuong Do bought 15,210 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average cost of $2.08 per share, with a total value of $31,636.80. Following the completion of the purchase, the chief executive officer owned 16,117 shares of the company’s stock, valued at $33,523.36. This represents a 1,676.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 23,280 shares of company stock valued at $49,118. Corporate insiders own 16.70% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in BioVie stock. Renaissance Technologies LLC raised its position in BioVie Inc. (NASDAQ:BIVI) by 142.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,918 shares of the company’s stock after buying 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. 4.59% of the stock is currently owned by institutional investors and hedge funds.

About BioVie

BioVie Inc (NASDAQ: BIVI) is a clinical-stage biopharmaceutical company focused on developing therapies for complex diseases with significant unmet medical needs. Its research programs have centered on neurodegenerative disorders, including Alzheimer’s disease and Parkinson’s disease, as well as liver diseases associated with cirrhosis.

The company’s development portfolio has included NE3107, an investigational oral therapy being studied for potential anti-inflammatory and insulin-sensitizing effects in neurodegenerative conditions.