BioVie (NASDAQ:BIVI) Releases Quarterly Earnings Results

BioVie (NASDAQ:BIVI) announced its earnings results on Friday. The company reported ($0.68) earnings per share (EPS) for the quarter, FiscalAI reports.

BioVie Trading Up 9.9%

NASDAQ BIVI opened at $1.33 on Friday. The company has a market cap of $11.54 million, a P/E ratio of -0.42 and a beta of 0.78. The company has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $1.52. BioVie has a 12-month low of $0.82 and a 12-month high of $3.79.

Wall Street Analyst Weigh In

BIVI has been the topic of a number of research reports. Wall Street Zen lowered BioVie from a “hold” rating to a “sell” rating in a report on Monday, October 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Insider Activity

In other news, CEO Cuong Do bought 15,210 shares of BioVie stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average price of $2.08 per share, for a total transaction of $31,636.80. Following the purchase, the chief executive officer directly owned 16,117 shares of the company’s stock, valued at approximately $33,523.36. The trade was a 1,676.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 23,280 shares of company stock worth $49,118 in the last ninety days. 16.70% of the stock is owned by insiders.

Institutional Investors Weigh In On BioVie

A hedge fund recently bought a new position in BioVie stock. StoneX Group Inc. bought a new position in shares of BioVie Inc. (NASDAQ:BIVI) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,983 shares of the company’s stock, valued at approximately $26,000. StoneX Group Inc. owned about 0.18% of BioVie as of its most recent filing with the Securities & Exchange Commission. 4.59% of the stock is owned by hedge funds and other institutional investors.

BioVie Company Profile

BioVie Inc is a clinical-stage biopharmaceutical company focused on developing therapies for neurological, neurodegenerative and inflammatory diseases. Its research programs are aimed at addressing disease mechanisms such as chronic inflammation, insulin resistance and impaired cellular signaling.

The company’s lead investigational product, bezisterim (also known as NE3107), is an orally administered, blood-brain barrier-penetrating small molecule being studied for potential use in disorders including Alzheimer’s disease and Parkinson’s disease.