BioVie (NASDAQ:BIVI) Stock Price Down 1% – What’s Next?

BioVie Inc. (NASDAQ:BIVI) traded down 1% on Wednesday . The company traded as low as $1.87 and last traded at $1.92. 309,460 shares changed hands during mid-day trading, an increase of 102% from the average daily volume of 153,381 shares. The stock had previously closed at $1.94.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

BioVie Stock Performance

The company’s 50-day simple moving average is $1.57 and its 200 day simple moving average is $1.41. The company has a market cap of $14.67 million, a PE ratio of -0.79 and a beta of 0.67.

BioVie (NASDAQ:BIVI) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.03.

Hedge Funds Weigh In On BioVie

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Prelude Capital Management LLC purchased a new stake in shares of BioVie during the third quarter worth approximately $275,000. Prosperity Wealth Management Inc. purchased a new position in BioVie in the third quarter worth approximately $273,000. DRW Securities LLC purchased a new position in BioVie in the fourth quarter worth approximately $149,000. Citadel Advisors LLC acquired a new position in BioVie during the 3rd quarter worth approximately $199,000. Finally, Renaissance Technologies LLC increased its position in shares of BioVie by 142.4% in the 1st quarter. Renaissance Technologies LLC now owns 67,918 shares of the company’s stock valued at $95,000 after purchasing an additional 39,900 shares during the last quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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.