Zacks Investment Research Lowers BioVie (NASDAQ:BIVI) to Hold

BioVie (NASDAQ:BIVIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, reports.

According to Zacks, “BioVie Inc. engages in developing drug therapies for liver disease. The company’s product candidate includes BIV201, which are in clinical stage. BioVie Inc. is based in SANTA MONICA, CA. “

BIVI has been the subject of several other research reports. B. Riley reduced their target price on shares of BioVie from $27.00 to $18.00 in a research note on Monday, January 24th. Oppenheimer started coverage on shares of BioVie in a research note on Monday, March 14th. They set an “outperform” rating and a $9.00 price target for the company.

Shares of NASDAQ:BIVI traded down $0.07 during midday trading on Friday, hitting $2.86. 10,853 shares of the stock were exchanged, compared to its average volume of 45,564. The company has a debt-to-equity ratio of 1.17, a quick ratio of 5.74 and a current ratio of 5.74. BioVie has a 52-week low of $2.52 and a 52-week high of $19.10. The business’s fifty day simple moving average is $3.87 and its two-hundred day simple moving average is $4.34. The company has a market capitalization of $71.45 million, a PE ratio of -0.26 and a beta of 1.26.

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in shares of BioVie by 90.3% in the third quarter. Renaissance Technologies LLC now owns 53,100 shares of the company’s stock valued at $355,000 after purchasing an additional 25,200 shares in the last quarter. swisspartners Ltd. grew its holdings in BioVie by 45.0% during the 3rd quarter. swisspartners Ltd. now owns 80,521 shares of the company’s stock worth $542,000 after acquiring an additional 25,000 shares during the period. Long Focus Capital Management LLC acquired a new stake in BioVie during the 4th quarter worth $90,000. State Street Corp acquired a new position in shares of BioVie in the 4th quarter valued at $67,000. Finally, Susquehanna International Group LLP acquired a new position in shares of BioVie in the 4th quarter valued at $48,000. Institutional investors own 6.62% of the company’s stock.

About BioVie (Get Rating)

BioVie Inc, a clinical stage biotechnology company, engages in the discovery, development, and commercialization of drugs therapies in the United States. Its products in pipeline include BIV201, which completed Phase IIa clinical trial for the treatment of ascites due to chronic liver cirrhosis; and NE3107, which is in Phase III clinical trial for the treatment of patients with mild to moderate Alzheimer's disease and Phase I clinical trial for the treatment of Parkinson's disease.

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