BioVie (NASDAQ:BIVI) Trading 1.9% Higher – Time to Buy?

Shares of BioVie Inc. (NASDAQ:BIVI) were up 1.9% during trading on Tuesday . The company traded as high as $1.07 and last traded at $1.05. Approximately 203,562 shares changed hands during trading, a decline of 89% from the average daily volume of 1,829,769 shares. The stock had previously closed at $1.03.

Wall Street Analyst Weigh In

Separately, Brookline Capital Management upgraded shares of BioVie to a “strong-buy” rating in a research note on Tuesday, March 18th.

BioVie Price Performance

The business’s 50 day moving average is $0.95 and its 200 day moving average is $1.70. The stock has a market cap of $19.49 million, a price-to-earnings ratio of -0.11 and a beta of 0.66.

BioVie (NASDAQ:BIVI) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.17.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in BioVie by 223.3% in the fourth quarter. Geode Capital Management LLC now owns 123,408 shares of the company’s stock valued at $247,000 after buying an additional 85,234 shares in the last quarter. Bank of Montreal Can purchased a new position in BioVie in the fourth quarter valued at about $100,000. Drive Wealth Management LLC purchased a new position in BioVie in the fourth quarter valued at about $120,000. NewEdge Advisors LLC increased its holdings in BioVie by 14,000.0% in the fourth quarter. NewEdge Advisors LLC now owns 14,100 shares of the company’s stock valued at $28,000 after buying an additional 14,000 shares in the last quarter. Finally, Prosperity Wealth Management Inc. purchased a new position in BioVie in the fourth quarter valued at about $63,000. 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.