BioVie (NASDAQ:BIVI) Releases Quarterly Earnings Results

BioVie (NASDAQ:BIVI) issued its quarterly earnings data on Friday. The company reported ($0.68) earnings per share (EPS) for the quarter, FiscalAI reports.

BioVie Trading Up 9.9%

Shares of BIVI stock opened at $1.33 on Friday. The firm’s fifty day moving average price is $1.57 and its two-hundred day moving average price is $1.52. BioVie has a 1 year low of $0.82 and a 1 year high of $3.79. The firm has a market capitalization of $11.54 million, a P/E ratio of -0.47 and a beta of 0.78.

Insider Buying and Selling at BioVie

In related news, CEO Cuong Do purchased 15,210 shares of BioVie stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $2.08 per share, with a total value of $31,636.80. Following the completion of the transaction, the chief executive officer owned 16,117 shares of the company’s stock, valued at approximately $33,523.36. This trade represents a 1,676.96% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders bought 23,280 shares of company stock valued at $49,118. 16.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioVie

An institutional investor recently bought a new stake in BioVie stock. StoneX Group Inc. purchased a new position in shares of BioVie Inc. (NASDAQ:BIVI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,983 shares of the company’s stock, valued at approximately $26,000. StoneX Group Inc. owned approximately 0.18% of BioVie at the end of the most recent quarter. 4.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BIVI. Wall Street Zen lowered shares of BioVie from a “hold” rating to a “sell” rating in a report on Monday, October 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioVie in a research note on Thursday, October 15th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.

About BioVie

BioVie Inc is a clinical-stage biopharmaceutical company focused on developing therapies for neurological, neurodegenerative and inflammatory diseases. Its research programs are aimed at addressing disease mechanisms such as chronic inflammation, insulin resistance and impaired cellular signaling.

The company’s lead investigational product, bezisterim (also known as NE3107), is an orally administered, blood-brain barrier-penetrating small molecule being studied for potential use in disorders including Alzheimer’s disease and Parkinson’s disease.