BioVie (NASDAQ:BIVI) Stock Rating Upgraded by Wall Street Zen

BioVie (NASDAQ:BIVI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has an average rating of “Sell”.

BioVie Stock Performance

Shares of NASDAQ BIVI opened at $1.32 on Friday. The firm has a fifty day moving average of $1.69 and a 200 day moving average of $1.63. The firm has a market cap of $11.46 million, a PE ratio of -0.42 and a beta of 0.73. BioVie has a one year low of $0.82 and a one year high of $3.79.

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

Insider Transactions at BioVie

In other BioVie news, CEO Cuong Do purchased 15,210 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was bought at an average price of $2.08 per share, with a total value of $31,636.80. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have purchased 23,280 shares of company stock worth $49,118. 16.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BioVie

An institutional investor recently raised its position in BioVie stock. Renaissance Technologies LLC increased its stake in BioVie Inc. (NASDAQ:BIVI) by 142.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,918 shares of the company’s stock after acquiring an additional 39,900 shares during the period. Renaissance Technologies LLC owned approximately 0.90% of BioVie worth $95,000 at the end of the most recent reporting period. Institutional investors own 4.59% of the company’s stock.

About BioVie

BioVie Inc (NASDAQ: BIVI) is a clinical-stage biopharmaceutical company focused on developing therapies for complex diseases with significant unmet medical needs. Its research programs have centered on neurodegenerative disorders, including Alzheimer’s disease and Parkinson’s disease, as well as liver diseases associated with cirrhosis.

The company’s development portfolio has included NE3107, an investigational oral therapy being studied for potential anti-inflammatory and insulin-sensitizing effects in neurodegenerative conditions.