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 research report report published on Saturday,Wall Street Zen reports.

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

BioVie Price Performance

Shares of NASDAQ BIVI opened at $2.00 on Friday. The company has a 50 day simple moving average of $1.73 and a 200-day simple moving average of $1.58. The company has a market capitalization of $16.90 million, a P/E ratio of -0.63 and a beta of 0.74. BioVie has a 1 year low of $0.82 and a 1 year high of $3.79.

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

Insiders Place Their Bets

In related news, CEO Cuong V. Do purchased 15,210 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was acquired at an average cost 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 in the company, valued at approximately $33,523.36. The trade was a 1,676.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought a total of 23,280 shares of company stock worth $49,118 over the last ninety days. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On BioVie

Several large investors have recently made changes to their positions in BIVI. Prelude Capital Management LLC acquired a new position in BioVie in the 3rd quarter valued at about $275,000. Prosperity Wealth Management Inc. acquired a new stake in shares of BioVie during the third quarter worth about $273,000. DRW Securities LLC acquired a new stake in shares of BioVie during the fourth quarter worth about $149,000. Citadel Advisors LLC purchased a new position in shares of BioVie in the third quarter valued at approximately $199,000. Finally, Jane Street Group LLC purchased a new position in shares of BioVie in the second quarter valued at approximately $57,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.