Wall Street Zen Upgrades BioVie (NASDAQ:BIVI) to “Sell”

BioVie (NASDAQ:BIVI) was upgraded by equities researchers at Wall Street Zen to a “sell” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research report on Monday, April 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, BioVie presently has an average rating of “Sell”.

BioVie Stock Up 4.7%

BioVie stock opened at $1.80 on Friday. The firm has a fifty day moving average of $1.70 and a 200-day moving average of $1.47. BioVie has a 52-week low of $1.06 and a 52-week high of $9.09. The firm has a market capitalization of $13.57 million, a P/E ratio of -0.73 and a beta of 0.57.

BioVie (NASDAQ:BIVI) last posted its earnings results on Monday, May 11th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.03.

Institutional Trading of BioVie

A number of hedge funds have recently made changes to their positions in the company. Prelude Capital Management LLC purchased a new stake in shares of BioVie during the third quarter valued at approximately $275,000. Prosperity Wealth Management Inc. purchased a new position in shares of BioVie in the third quarter valued at $273,000. DRW Securities LLC acquired a new stake in BioVie during the 4th quarter valued at $149,000. Citadel Advisors LLC acquired a new stake in BioVie during the 3rd quarter valued at $199,000. Finally, Renaissance Technologies LLC increased its stake in BioVie by 142.4% during the 1st quarter. Renaissance Technologies LLC now owns 67,918 shares of the company’s stock worth $95,000 after buying an additional 39,900 shares during the period. 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.