BioVie (NASDAQ:BIVI) Announces Earnings Results

BioVie (NASDAQ:BIVI) issued its quarterly earnings results on Friday. The company reported ($0.77) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.04, FiscalAI reports.

BioVie Stock Up 6.6%

BIVI stock traded up $0.07 during midday trading on Friday, reaching $1.13. 194,408 shares of the company’s stock traded hands, compared to its average volume of 112,544. The company has a market cap of $8.52 million, a price-to-earnings ratio of -0.16 and a beta of 0.56. The firm’s fifty day moving average price is $1.32 and its 200-day moving average price is $2.03. BioVie has a 52 week low of $1.06 and a 52 week high of $20.30.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BioVie currently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On BioVie

Several institutional investors have recently bought and sold shares of BIVI. NewEdge Advisors LLC boosted its holdings in BioVie by 283.7% during the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after acquiring an additional 40,000 shares during the last quarter. XTX Topco Ltd purchased a new position in BioVie during the second quarter worth about $40,000. Jane Street Group LLC bought a new stake in BioVie in the 2nd quarter worth about $57,000. Squarepoint Ops LLC bought a new position in shares of BioVie during the 3rd quarter worth approximately $63,000. Finally, Two Sigma Investments LP purchased a new position in shares of BioVie in the 3rd quarter worth approximately $62,000. Institutional investors own 4.59% of the company’s stock.

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.