Cuong Do Buys 15,210 Shares of BioVie (NASDAQ:BIVI) Stock

BioVie Inc. (NASDAQ:BIVI) CEO Cuong Do acquired 15,210 shares of BioVie stock in a transaction on Thursday, August 27th. The shares were purchased at an average price of $2.08 per share, for a total transaction of $31,636.80. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

BioVie Price Performance

Shares of NASDAQ:BIVI opened at $2.16 on Friday. BioVie Inc. has a 1 year low of $0.82 and a 1 year high of $3.79. The company’s 50 day simple moving average is $1.71 and its 200 day simple moving average is $1.54. The stock has a market capitalization of $18.25 million, a price-to-earnings ratio of -0.69 and a beta of 0.60.

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

Wall Street Analysts Forecast Growth

BIVI has been the subject of a number of research reports. Wall Street Zen upgraded BioVie to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in BioVie during the fourth quarter worth approximately $25,000. Two Sigma Investments LP bought a new position in shares of BioVie during the 3rd quarter worth approximately $62,000. Squarepoint Ops LLC acquired a new stake in shares of BioVie during the 3rd quarter worth approximately $63,000. Renaissance Technologies LLC increased its stake in shares of BioVie by 142.4% in the 1st quarter. Renaissance Technologies LLC now owns 67,918 shares of the company’s stock valued at $95,000 after acquiring an additional 39,900 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of BioVie by 283.7% during 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 period. Institutional investors own 4.59% of the company’s stock.

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.