BioVie (NASDAQ:BIVI) Stock Price Down 1% – Time to Sell?

BioVie Inc. (NASDAQ:BIVI)’s stock price dropped 1% during trading on Wednesday . The stock traded as low as $1.87 and last traded at $1.92. 309,460 shares were traded during mid-day trading, an increase of 102% from the average daily volume of 153,381 shares. The stock had previously closed at $1.94.

Analyst Upgrades and Downgrades

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

BioVie Trading Down 1.0%

The stock has a market cap of $14.48 million, a P/E ratio of -0.78 and a beta of 0.67. The stock’s 50-day moving average is $1.56 and its 200-day moving average is $1.40.

BioVie (NASDAQ:BIVI) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.03.

Institutional Investors Weigh In On BioVie

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIVI. XTX Topco Ltd acquired a new stake in BioVie in the fourth quarter worth approximately $25,000. Two Sigma Investments LP acquired a new position in shares of BioVie during the 3rd quarter valued at $62,000. Squarepoint Ops LLC acquired a new position in shares of BioVie during the 3rd quarter valued at $63,000. NewEdge Advisors LLC raised its stake in shares of BioVie by 283.7% in the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after buying an additional 40,000 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of BioVie in the 2nd quarter worth $57,000. 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.