BioVie (NASDAQ:BIVI) Stock Moved Down to “Sell” by Wall Street Zen

Wall Street Zen downgraded shares of BioVie (NASDAQ:BIVI) from a hold rating to a sell rating in a research note released on Monday morning,Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a report on Thursday. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of “Sell”.

BioVie Price Performance

BIVI stock opened at $1.37 on Monday. The business has a 50-day moving average price of $1.66 and a 200 day moving average price of $1.62. The company has a market capitalization of $11.89 million, a P/E ratio of -0.43 and a beta of 0.73. 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 data on Wednesday, August 12th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.18).

Insiders Place Their Bets

In related news, CEO Cuong Do bought 15,210 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were acquired at an average price of $2.08 per share, with a total value of $31,636.80. Following the transaction, the chief executive officer owned 16,117 shares of the company’s stock, valued at $33,523.36. The trade was a 1,676.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 23,280 shares of company stock worth $49,118 in the last ninety days. 16.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its position in BioVie stock. Renaissance Technologies LLC increased its stake in shares of BioVie Inc. (NASDAQ:BIVI) by 142.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,918 shares of the company’s stock after purchasing an additional 39,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.90% of BioVie worth $95,000 as of its most recent SEC filing. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.