BioVie (NASDAQ:BIVI) Issues Quarterly Earnings Results

BioVie (NASDAQ:BIVI) announced its earnings results on Monday. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.19), Zacks reports.

BioVie Trading Up 5.4%

Shares of NASDAQ:BIVI traded up $0.08 during trading on Monday, hitting $1.56. 77,034 shares of the company’s stock traded hands, compared to its average volume of 128,224. The company has a 50-day moving average price of $1.82 and a 200-day moving average price of $5.81. BioVie has a 52 week low of $1.42 and a 52 week high of $38.50. The company has a market cap of $11.76 million, a price-to-earnings ratio of -0.02 and a beta of 0.67.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BIVI shares. Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of BioVie from a “sell” rating to a “hold” rating in a research report on Sunday, September 28th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in shares of BioVie in the second quarter valued at approximately $40,000. NewEdge Advisors LLC boosted its stake in BioVie by 283.7% in the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after purchasing an additional 40,000 shares during the period. Finally, Jane Street Group LLC acquired a new position in BioVie in the 2nd quarter worth $57,000. Institutional investors own 4.59% of the company’s stock.

BioVie Company Profile

BioVie Inc, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of chronic debilitating conditions in the United States. Its products pipeline includes BIV201, which completed Phase IIa clinical trial for the treatment of ascites caused due to chronic liver cirrhosis; and NE3107, a potentially selective inhibitor of inflammatory extracellular single-regulated kinase, which is in Phase III clinical trial for the treatment of patients with mild to moderate Alzheimer's disease, as well as Phase 2 clinical trial for the treatment of Parkinson's disease.