BioVie (NASDAQ:BIVI) Trading Up 4.2% – Still a Buy?

BioVie Inc. (NASDAQ:BIVI)’s stock price was up 4.2% during mid-day trading on Monday . The company traded as high as $2.02 and last traded at $1.99. Approximately 131,854 shares changed hands during trading, a decline of 29% from the average daily volume of 186,011 shares. The stock had previously closed at $1.91.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BIVI shares. Wall Street Zen upgraded BioVie from a “sell” rating to a “hold” rating in a research note on Sunday, September 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

BioVie Stock Performance

The stock has a fifty day moving average of $1.79 and a 200 day moving average of $6.43. The company has a market capitalization of $15.00 million, a PE ratio of -0.03 and a beta of 0.71.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in BioVie in the 2nd quarter worth approximately $57,000. NewEdge Advisors LLC raised its holdings in shares of BioVie by 283.7% during the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after acquiring an additional 40,000 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of BioVie during the 2nd quarter worth approximately $40,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

BioVie Company Profile

BioVie Inc, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of chronic debilitating conditions in the United States. Its products pipeline includes BIV201, which completed Phase IIa clinical trial for the treatment of ascites caused due to chronic liver cirrhosis; and NE3107, a potentially selective inhibitor of inflammatory extracellular single-regulated kinase, which is in Phase III clinical trial for the treatment of patients with mild to moderate Alzheimer's disease, as well as Phase 2 clinical trial for the treatment of Parkinson's disease.