BioVie (NASDAQ:BIVI) Stock Price Up 3.5% – What’s Next?

BioVie Inc. (NASDAQ:BIVI) rose 3.5% during mid-day trading on Monday . The stock traded as high as $1.50 and last traded at $1.47. Approximately 96,125 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 64,399 shares. The stock had previously closed at $1.42.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

BioVie Stock Performance

The company’s 50-day moving average price is $1.30 and its two-hundred day moving average price is $1.47. The stock has a market cap of $11.08 million, a PE ratio of -0.45 and a beta of 0.56.

BioVie (NASDAQ:BIVI) last posted its quarterly earnings data on Friday, February 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.04.

Hedge Funds Weigh In On BioVie

Institutional investors and hedge funds have recently made changes to their positions in the business. Prelude Capital Management LLC bought a new position in shares of BioVie during the 3rd quarter valued at $275,000. Prosperity Wealth Management Inc. bought a new position in shares of BioVie during the 3rd quarter valued at $273,000. Citadel Advisors LLC bought a new position in shares of BioVie during the 3rd quarter valued at $199,000. DRW Securities LLC bought a new position in shares of BioVie during the 4th quarter valued at $149,000. Finally, Squarepoint Ops LLC bought a new position in shares of BioVie during the 3rd quarter valued at $63,000. 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.