BioVie (NASDAQ:BIVI) Posts Earnings Results, Misses Expectations By $0.19 EPS

by · The Markets Daily

BioVie (NASDAQ:BIVI – Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.19), Zacks reports.

BioVie Trading Up 5.4%

BIVI stock traded up $0.08 during midday trading on Monday, hitting $1.56. The stock had a trading volume of 77,113 shares, compared to its average volume of 128,224. The firm has a market cap of $11.76 million, a P/E ratio of -0.02 and a beta of 0.67. The business has a fifty day moving average price of $1.82 and a two-hundred day moving average price of $5.81. BioVie has a 1-year low of $1.42 and a 1-year high of $38.50.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BIVI. Wall Street Zen raised shares of BioVie from a “sell” rating to a “hold” rating in a report on Sunday, September 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Check Out Our Latest Stock Analysis on BioVie

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BIVI. XTX Topco Ltd acquired a new position in shares of BioVie during the second quarter valued at about $40,000. NewEdge Advisors LLC raised its stake in shares of BioVie by 283.7% in the first quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of BioVie in the second quarter worth approximately $57,000. 4.59% of the stock is owned by institutional investors and hedge funds.

About BioVie

(Get Free Report)

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.

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