BioVie (NASDAQ:BIVI) Stock Price Down 4.7% – Should You Sell?

BioVie Inc. (NASDAQ:BIVI) dropped 4.7% during trading on Wednesday . The company traded as low as $1.21 and last traded at $1.21. Approximately 79,581 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 122,030 shares. The stock had previously closed at $1.27.

Analysts Set New Price Targets

BIVI has been the subject of several research reports. Wall Street Zen raised shares of BioVie from a “sell” rating to a “hold” rating in a research note on Sunday, September 28th. Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

BioVie Price Performance

The stock has a market capitalization of $9.12 million, a price-to-earnings ratio of -0.17 and a beta of 0.36. The business has a fifty day moving average of $1.40 and a 200 day moving average of $2.78.

BioVie (NASDAQ:BIVI) last posted its earnings results on Monday, November 10th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.19).

Institutional Trading of BioVie

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIVI. Prelude Capital Management LLC acquired a new position in BioVie during the third quarter worth $275,000. Prosperity Wealth Management Inc. acquired a new position in BioVie during the 3rd quarter worth about $273,000. Citadel Advisors LLC purchased a new position in BioVie during the 3rd quarter valued at about $199,000. Jane Street Group LLC acquired a new position in BioVie in the 2nd quarter valued at about $57,000. Finally, XTX Topco Ltd purchased a new stake in BioVie during the second quarter worth about $40,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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.