BioVie (NASDAQ:BIVI) Issues Quarterly Earnings Results

BioVie (NASDAQ:BIVI) announced its earnings results on Monday. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.03, Zacks reports.

BioVie Price Performance

BIVI stock opened at $1.40 on Tuesday. The firm has a market capitalization of $10.52 million, a P/E ratio of -0.42 and a beta of 0.72. BioVie has a 1 year low of $1.06 and a 1 year high of $12.10. The business’s 50-day moving average is $1.44 and its two-hundred day moving average is $1.40.

Institutional Investors Weigh In On BioVie

A number of hedge funds and other institutional investors have recently made changes to their positions in BIVI. XTX Topco Ltd acquired a new position in BioVie in the fourth quarter valued at $25,000. NewEdge Advisors LLC grew its holdings 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 buying an additional 40,000 shares during the period. Jane Street Group LLC purchased a new stake in BioVie in the 2nd quarter valued at about $57,000. Two Sigma Investments LP acquired a new position in shares of BioVie during the 3rd quarter valued at about $62,000. Finally, Squarepoint Ops LLC acquired a new position in shares of BioVie during the 3rd quarter valued at about $63,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a report on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company 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.