BioVie (NASDAQ:BIVI) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of BioVie (NASDAQ:BIVI) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

BioVie Stock Performance

Shares of BIVI stock opened at $1.44 on Friday. The stock’s fifty day moving average is $1.69 and its two-hundred day moving average is $1.62. The firm has a market capitalization of $12.50 million, a P/E ratio of -0.46 and a beta of 0.73. BioVie has a fifty-two week low of $0.82 and a fifty-two week high of $3.79.

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

Insider Buying and Selling

In related news, CEO Cuong V. Do acquired 15,210 shares of the stock in a transaction on Thursday, August 27th. The shares were bought at an average price of $2.08 per share, with a total value of $31,636.80. Following the completion of the purchase, the chief executive officer owned 16,117 shares of the company’s stock, valued at approximately $33,523.36. This represents a 1,676.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 23,280 shares of company stock worth $49,118 in the last quarter. Company insiders own 16.70% of the company’s stock.

Institutional Trading of BioVie

A hedge fund recently raised its position in BioVie stock. Renaissance Technologies LLC lifted its stake in shares of BioVie Inc. (NASDAQ:BIVI) by 142.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,918 shares of the company’s stock after acquiring an additional 39,900 shares during the period. Renaissance Technologies LLC owned 0.90% of BioVie worth $95,000 as of its most recent filing with the Securities & Exchange Commission. 4.59% of the stock is currently owned by institutional investors.

About BioVie

BioVie Inc (NASDAQ: BIVI) is a clinical-stage biopharmaceutical company developing therapies for neurological and liver diseases. The company focuses on treatments designed to address underlying disease mechanisms, including neuroinflammation, insulin resistance and fluid accumulation associated with advanced liver disease.

BioVie’s pipeline has included NE3107, an orally administered, blood-brain barrier-penetrant small molecule being investigated for neurodegenerative conditions such as Alzheimer’s disease and Parkinson’s disease.