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

BioVie Inc. (NASDAQ:BIVI) CEO Cuong Do acquired 15,210 shares of the stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost of $2.08 per share, with a total value of $31,636.80. Following the purchase, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website.

BioVie Stock Down 1.4%

BioVie stock opened at $2.16 on Friday. The firm has a market cap of $18.25 million, a PE ratio of -0.69 and a beta of 0.60. BioVie Inc. has a 52-week low of $0.82 and a 52-week high of $3.79. The company’s 50 day moving average is $1.71 and its two-hundred day moving average is $1.54.

BioVie (NASDAQ:BIVI) last released its earnings results 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).

Institutional Trading of BioVie

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

Analyst Ratings Changes

Several research firms recently weighed in on BIVI. Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a research note on Friday, July 17th. Wall Street Zen upgraded shares of BioVie to a “sell” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.