BioVie (NASDAQ:BIVI) Rating Lowered to “Sell” at Wall Street Zen

BioVie (NASDAQ:BIVI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

BioVie Price Performance

BIVI opened at $1.46 on Friday. BioVie has a 12 month low of $0.82 and a 12 month high of $3.79. The business has a 50-day moving average of $1.69 and a two-hundred day moving average of $1.62. The stock has a market capitalization of $12.67 million, a price-to-earnings ratio of -0.46 and a beta of 0.73.

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

Insider Buying and Selling at BioVie

In other news, CEO Cuong V. Do bought 15,210 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was acquired at an average price of $2.08 per share, for a total transaction of $31,636.80. Following the acquisition, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders bought 23,280 shares of company stock valued at $49,118. Insiders own 16.70% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BioVie stock. Renaissance Technologies LLC raised 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 institutional investor owned 67,918 shares of the company’s stock after buying an additional 39,900 shares during the period. Renaissance Technologies LLC owned about 0.90% of BioVie worth $95,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 4.59% of the company’s stock.

BioVie Company Profile

BioVie Inc (NASDAQ: BIVI) is a clinical-stage biopharmaceutical company developing therapies for neurological and liver diseases. The company focuses on treatments designed to address underlying disease mechanisms, including neuroinflammation, insulin resistance and fluid accumulation associated with advanced liver disease.

BioVie’s pipeline has included NE3107, an orally administered, blood-brain barrier-penetrant small molecule being investigated for neurodegenerative conditions such as Alzheimer’s disease and Parkinson’s disease.