BioVie (NASDAQ:BIVI) Announces Earnings Results

BioVie (NASDAQ:BIVI) issued its quarterly earnings results on Monday. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.03, Zacks reports.

BioVie Stock Down 8.2%

BIVI stock traded down $0.12 during trading on Monday, reaching $1.35. The company’s stock had a trading volume of 179,281 shares, compared to its average volume of 94,120. BioVie has a 1 year low of $1.06 and a 1 year high of $12.10. The company has a market capitalization of $10.18 million, a P/E ratio of -0.42 and a beta of 0.72. The company’s fifty day moving average is $1.43 and its 200-day moving average is $1.41.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in shares of BioVie in the 4th quarter valued at about $25,000. NewEdge Advisors LLC lifted its holdings in shares of BioVie by 283.7% in the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock valued at $53,000 after acquiring an additional 40,000 shares during the last quarter. Jane Street Group LLC bought a new stake in BioVie in the second quarter worth about $57,000. Two Sigma Investments LP bought a new stake in BioVie in the third quarter worth about $62,000. Finally, Squarepoint Ops LLC bought a new stake in BioVie in the third quarter worth about $63,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research report on Monday, April 20th. 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 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.