BioVie (NASDAQ:BIVI) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

BioVie (NASDAQ:BIVI) announced its quarterly earnings data on Friday. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.04, FiscalAI reports.

BioVie Price Performance

BIVI traded up $0.07 during trading hours on Friday, hitting $1.13. 194,408 shares of the stock were exchanged, compared to its average volume of 112,544. The stock has a market cap of $8.52 million, a price-to-earnings ratio of -0.16 and a beta of 0.56. The stock has a 50-day simple moving average of $1.32 and a 200-day simple moving average of $2.03. BioVie has a 12 month low of $1.06 and a 12 month high of $20.30.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On BioVie

Several large investors have recently added to or reduced their stakes in BIVI. NewEdge Advisors LLC boosted its stake in BioVie by 283.7% during the first quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock valued at $53,000 after buying an additional 40,000 shares in the last quarter. XTX Topco Ltd bought a new position in shares of BioVie during the 2nd quarter valued at about $40,000. Jane Street Group LLC acquired a new position in shares of BioVie in the 2nd quarter worth approximately $57,000. Squarepoint Ops LLC bought a new stake in shares of BioVie in the 3rd quarter worth approximately $63,000. Finally, Two Sigma Investments LP acquired a new stake in BioVie during the third quarter valued at approximately $62,000. 4.59% of the stock is owned by institutional investors and hedge funds.

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.