BioVie (NASDAQ:BIVI) Shares Up 1.4%

BioVie Inc. (NASDAQ:BIVI)’s share price shot up 1.4% during trading on Monday . The company traded as high as $2.89 and last traded at $2.80. 314,738 shares traded hands during trading, an increase of 126% from the average session volume of 139,208 shares. The stock had previously closed at $2.76.

Analyst Upgrades and Downgrades

Separately, ThinkEquity began coverage on BioVie in a research report on Monday, July 1st. They issued a “buy” rating and a $0.30 target price for the company.

BioVie Price Performance

The company has a 50 day simple moving average of $1.88 and a 200-day simple moving average of $0.69. The stock has a market cap of $171.26 million, a P/E ratio of -2.98 and a beta of 0.71.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BioVie stock. CVI Holdings LLC bought a new position in BioVie Inc. (NASDAQ:BIVI) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 599,897 shares of the company’s stock, valued at approximately $317,000. CVI Holdings LLC owned approximately 1.50% of BioVie at the end of the most recent quarter. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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.