BioVie (NASDAQ:BIVI) Insider Joseph Palumbo Buys 4,843 Shares of Stock

BioVie Inc. (NASDAQ:BIVI) insider Joseph Palumbo acquired 4,843 shares of the business’s stock in a transaction on Friday, August 28th. The shares were bought at an average cost of $2.16 per share, with a total value of $10,460.88. Following the completion of the acquisition, the insider owned 6,036 shares in the company, valued at approximately $13,037.76. This represents a 405.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

BioVie Price Performance

Shares of BIVI stock traded down $0.03 during mid-day trading on Friday, hitting $2.16. The company had a trading volume of 483,161 shares, compared to its average volume of 14,005,157. BioVie Inc. has a 52-week low of $0.82 and a 52-week high of $3.79. The stock’s 50 day moving average price is $1.71 and its 200-day moving average price is $1.54. The company has a market capitalization of $18.25 million, a P/E ratio of -0.69 and a beta of 0.60.

BioVie (NASDAQ:BIVI) last issued its earnings results on Wednesday, August 12th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.18).

Institutional Investors Weigh In On BioVie

A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in BioVie during the fourth quarter valued at $25,000. NewEdge Advisors LLC increased its holdings in shares of 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 buying an additional 40,000 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of BioVie during the 2nd quarter valued at about $57,000. Two Sigma Investments LP purchased a new stake in shares of BioVie during the 3rd quarter valued at about $62,000. Finally, Squarepoint Ops LLC bought a new position in shares of BioVie in the 3rd quarter valued at about $63,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Analyst Ratings Changes

BIVI has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a research report on Friday, July 17th. Wall Street Zen raised BioVie to a “sell” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, BioVie currently has an average rating of “Sell”.

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.