BioVie (NASDAQ:BIVI) Stock Price Up 10.1% – Time to Buy?

BioVie Inc. (NASDAQ:BIVI)’s share price rose 10.1% during mid-day trading on Monday . The company traded as high as $1.1550 and last traded at $1.10. Approximately 1,246,162 shares changed hands during mid-day trading, an increase of 52% from the average daily volume of 821,774 shares. The stock had previously closed at $0.9993.

Analysts Set New Price Targets

A number of research firms recently weighed in on BIVI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioVie in a research report on Friday, July 17th. Wall Street Zen upgraded BioVie to a “sell” rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BioVie presently has a consensus rating of “Sell”.

BioVie Stock Performance

The business has a 50-day moving average of $1.71 and a 200-day moving average of $1.49. The stock has a market capitalization of $8.29 million, a price-to-earnings ratio of -0.45 and a beta of 0.60.

BioVie (NASDAQ:BIVI) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.03.

Institutional Investors Weigh In On BioVie

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of BioVie during the 4th quarter worth approximately $25,000. Two Sigma Investments LP purchased a new position in BioVie in the 3rd quarter valued at approximately $62,000. Squarepoint Ops LLC purchased a new position in BioVie in the 3rd quarter valued at approximately $63,000. NewEdge Advisors LLC raised its holdings in 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 purchasing an additional 40,000 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in BioVie during the second quarter worth $57,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

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.