BioVie (NASDAQ:BIVI) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

BioVie (NASDAQ:BIVI) released its quarterly earnings results on Friday. The company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.04, FiscalAI reports.

BioVie Price Performance

BioVie stock traded up $0.07 during mid-day trading on Friday, hitting $1.13. The company’s stock had a trading volume of 194,408 shares, compared to its average volume of 112,544. BioVie has a 52-week low of $1.06 and a 52-week high of $20.30. The company has a market cap of $8.52 million, a PE ratio of -0.16 and a beta of 0.56. The firm’s 50 day moving average is $1.32 and its 200 day moving average is $2.03.

Institutional Trading of BioVie

A number of hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of BioVie by 283.7% during the first 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. XTX Topco Ltd acquired a new position in BioVie in the 2nd quarter valued at approximately $40,000. Jane Street Group LLC purchased a new stake in BioVie in the 2nd quarter worth approximately $57,000. Squarepoint Ops LLC acquired a new stake in shares of BioVie during the 3rd quarter valued at $63,000. Finally, Two Sigma Investments LP purchased a new position in shares of BioVie during the 3rd quarter valued at $62,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.