BioVie (NASDAQ:BIVI) Stock Rating Lowered by Wall Street Zen

BioVie (NASDAQ:BIVI) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research note on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

BioVie Stock Down 9.5%

NASDAQ:BIVI opened at $1.24 on Monday. The firm has a market capitalization of $10.76 million, a price-to-earnings ratio of -0.39 and a beta of 0.73. BioVie has a twelve month low of $0.82 and a twelve month high of $3.79. The stock’s 50 day moving average price is $1.66 and its two-hundred day moving average price is $1.62.

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

Insider Activity

In other news, CEO Cuong Do bought 15,210 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were bought at an average cost of $2.08 per share, with a total value of $31,636.80. Following the acquisition, the chief executive officer owned 16,117 shares in the company, valued at $33,523.36. This trade represents a 1,676.96% 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 link. Over the last quarter, insiders have bought 23,280 shares of company stock valued at $49,118. 16.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioVie

A hedge fund recently raised its position in BioVie stock. Renaissance Technologies LLC boosted its holdings in shares of BioVie Inc. (NASDAQ:BIVI) by 142.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,918 shares of the company’s stock after buying an additional 39,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.90% of BioVie worth $95,000 at the end of the most recent reporting period. 4.59% of the stock is owned by institutional investors and hedge funds.

BioVie News Summary

Here are the key news stories impacting BioVie this week:

• Positive Sentiment: In the Phase 2 SUNRISE-PD trial, Parkinson’s patients with elevated baseline inflammation experienced statistically significant improvements in both motor and non-motor symptoms after 12 weeks of bezisterim treatment compared with placebo. The findings were presented at the American Neurological Association meeting. BioVie Presents Data on Bezisterim in Parkinson’s Disease
• Positive Sentiment: The Parkinson’s study was randomized, double-blind and placebo-controlled, supporting the credibility of the results. BioVie said the trial enrolled 57 patients and that the strongest benefits appeared among early-stage patients with higher systemic inflammation. BioVie reports positive Phase 2 Parkinson’s data
• Positive Sentiment: Separate Phase 2 ADDRESS-LC data indicated that bezisterim improved fatigue, post-exertional malaise and cognitive symptoms in certain Long COVID patients, particularly those with greater symptom burden. The abstract was also published in Annals of Neurology. BioVie says bezisterim eased Long COVID symptoms
• Neutral Sentiment: The positive Parkinson’s findings were concentrated in an inflammation-defined subgroup and came from only 57 participants over 12 weeks. Investors may want larger, longer-term studies before assigning significant value to the program.
• Negative Sentiment: Wall Street Zen downgraded BioVie to “Sell,” adding to cautious sentiment around the company. BioVie cut to Sell at Wall Street Zen

About BioVie

BioVie Inc (NASDAQ: BIVI) is a clinical-stage biopharmaceutical company focused on developing therapies for complex diseases with significant unmet medical needs. Its research programs have centered on neurodegenerative disorders, including Alzheimer’s disease and Parkinson’s disease, as well as liver diseases associated with cirrhosis.

The company’s development portfolio has included NE3107, an investigational oral therapy being studied for potential anti-inflammatory and insulin-sensitizing effects in neurodegenerative conditions.