BioVie (NASDAQ:BIVI) CEO Purchases $31,636.80 in Stock

BioVie Inc. (NASDAQ:BIVI) CEO Cuong Do purchased 15,210 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were acquired at an average cost of $2.08 per share, for a total transaction of $31,636.80. Following the transaction, the chief executive officer owned 16,117 shares of the company’s stock, valued at $33,523.36. This trade represents a 1,676.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

BioVie Stock Performance

Shares of BIVI opened at $2.16 on Monday. The stock has a 50 day simple moving average of $1.71 and a 200 day simple moving average of $1.54. BioVie Inc. has a 52-week low of $0.82 and a 52-week high of $3.79. The firm has a market capitalization of $18.25 million, a PE ratio of -0.69 and a beta of 0.60.

BioVie (NASDAQ:BIVI) last announced its earnings results on Wednesday, August 12th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.18).

Institutional Investors Weigh In On BioVie

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prelude Capital Management LLC acquired a new stake in shares of BioVie during the 3rd quarter valued at $275,000. Prosperity Wealth Management Inc. bought a new stake in BioVie during the 3rd quarter worth approximately $273,000. DRW Securities LLC acquired a new position in BioVie in the 4th quarter valued at approximately $149,000. Citadel Advisors LLC bought a new position in shares of BioVie during the third quarter valued at $199,000. Finally, Jane Street Group LLC bought a new position in shares of BioVie during the second quarter valued at $57,000. 4.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

BIVI has been the topic of several recent research reports. Wall Street Zen upgraded shares of BioVie to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

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.