BioVie (NASDAQ:BIVI) Insider Purchases $10,460.88 in Stock

BioVie Inc. (NASDAQ:BIVI) insider Joseph Palumbo bought 4,843 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were acquired at an average price of $2.16 per share, with a total value of $10,460.88. Following the purchase, the insider directly owned 6,036 shares of the company’s stock, valued at approximately $13,037.76. This trade represents a 405.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

BioVie Price Performance

NASDAQ BIVI opened at $2.16 on Monday. The firm has a market cap of $18.25 million, a P/E 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 business’s 50-day moving average price is $1.71 and its 200 day moving average price is $1.54.

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

Institutional Investors Weigh In On BioVie

A number of institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in shares of BioVie by 283.7% during the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after buying an additional 40,000 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of BioVie in the 2nd quarter valued at approximately $40,000. Jane Street Group LLC purchased a new stake in shares of BioVie in the second quarter valued at approximately $57,000. Squarepoint Ops LLC acquired a new position in BioVie during the third quarter worth $63,000. Finally, Two Sigma Investments LP acquired a new position in BioVie during the third quarter worth $62,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

BIVI has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research report on Friday, July 17th. Wall Street Zen upgraded shares of BioVie to a “sell” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, BioVie currently has a consensus 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.