BioVie (NASDAQ:BIVI) Shares Up 12% – Should You Buy?

BioVie Inc. (NASDAQ:BIVI) rose 12% during trading on Wednesday . The stock traded as high as $1.83 and last traded at $1.77. 285,842 shares traded hands during trading, an increase of 28% from the average session volume of 222,864 shares. The stock had previously closed at $1.58.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, BioVie presently has a consensus rating of “Sell”.

BioVie Price Performance

The stock has a market capitalization of $13.35 million, a PE ratio of -0.72 and a beta of 0.57. The business’s fifty day moving average price is $1.69 and its two-hundred day moving average price is $1.46.

BioVie (NASDAQ:BIVI) last released its earnings results on Monday, May 11th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.03.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. DRW Securities LLC acquired a new stake in shares of BioVie during the fourth quarter worth about $149,000. Prosperity Wealth Management Inc. acquired a new position in BioVie in the 3rd quarter worth approximately $273,000. Prelude Capital Management LLC purchased a new position in BioVie during the 3rd quarter worth approximately $275,000. Citadel Advisors LLC purchased a new position in BioVie during the 3rd quarter worth approximately $199,000. Finally, Squarepoint Ops LLC acquired a new stake in BioVie during the 3rd quarter valued at approximately $63,000. 4.59% of the stock is owned by institutional investors and hedge funds.

BioVie Company Profile

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.