BioVie (NASDAQ:BIVI) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of BioVie (NASDAQ:BIVI) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

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

BioVie Trading Down 0.7%

Shares of NASDAQ:BIVI opened at $1.46 on Friday. The firm has a 50 day moving average of $1.69 and a 200-day moving average of $1.62. The stock has a market capitalization of $12.67 million, a PE ratio of -0.46 and a beta of 0.73. BioVie has a 12 month low of $0.82 and a 12 month high of $3.79.

BioVie (NASDAQ:BIVI) last issued its 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).

Insider Buying and Selling

In related news, CEO Cuong V. Do bought 15,210 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were purchased at an average price of $2.08 per share, for a total transaction of $31,636.80. Following the completion of the transaction, the chief executive officer directly owned 16,117 shares of the company’s stock, valued at approximately $33,523.36. This represents a 1,676.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have purchased 23,280 shares of company stock valued at $49,118. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in BioVie stock. Renaissance Technologies LLC grew its position in BioVie Inc. (NASDAQ:BIVI) by 142.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 67,918 shares of the company’s stock after acquiring an additional 39,900 shares during the period. Renaissance Technologies LLC owned 0.90% of BioVie worth $95,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 4.59% of the company’s stock.

About BioVie

BioVie Inc (NASDAQ: BIVI) is a clinical-stage biopharmaceutical company developing therapies for neurological and liver diseases. The company focuses on treatments designed to address underlying disease mechanisms, including neuroinflammation, insulin resistance and fluid accumulation associated with advanced liver disease.

BioVie’s pipeline has included NE3107, an orally administered, blood-brain barrier-penetrant small molecule being investigated for neurodegenerative conditions such as Alzheimer’s disease and Parkinson’s disease.