BioVie (NASDAQ:BIVI) Announces Earnings Results, Misses Expectations By $0.19 EPS

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

BioVie Trading Up 5.4%

NASDAQ:BIVI traded up $0.08 on Monday, hitting $1.56. The company’s stock had a trading volume of 77,034 shares, compared to its average volume of 128,224. BioVie has a one year low of $1.42 and a one year high of $38.50. The firm has a market capitalization of $11.76 million, a P/E ratio of -0.02 and a beta of 0.67. The stock has a fifty day moving average of $1.82 and a two-hundred day moving average of $5.81.

Institutional Investors Weigh In On BioVie

A number of large investors have recently added to or reduced their stakes in BIVI. NewEdge Advisors LLC grew its position in shares of BioVie by 283.7% in the first quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock valued at $53,000 after purchasing an additional 40,000 shares during the last quarter. XTX Topco Ltd bought a new stake in BioVie in the 2nd quarter valued at $40,000. Finally, Jane Street Group LLC bought a new stake in BioVie in the 2nd quarter valued at $57,000. Institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

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

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.