BioVie (NASDAQ:BIVI) Issues Quarterly Earnings Results

BioVie (NASDAQ:BIVI) released its earnings results on Monday. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.03, Zacks reports.

BioVie Stock Performance

Shares of BioVie stock traded down $0.12 during trading on Monday, hitting $1.35. 179,281 shares of the stock were exchanged, compared to its average volume of 94,120. The stock’s fifty day moving average is $1.43 and its 200 day moving average is $1.41. The stock has a market cap of $10.18 million, a PE ratio of -0.42 and a beta of 0.72. BioVie has a 12 month low of $1.06 and a 12 month high of $12.10.

Hedge Funds Weigh In On BioVie

Several institutional investors have recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of BioVie during the fourth quarter worth about $25,000. Two Sigma Investments LP bought a new position in shares of BioVie during the third quarter worth about $62,000. Squarepoint Ops LLC bought a new position in shares of BioVie during the third quarter worth about $63,000. NewEdge Advisors LLC grew its position 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 acquiring an additional 40,000 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of BioVie during the second quarter worth about $57,000. Institutional investors own 4.59% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research note on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock 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.