ThinkEquity Begins Coverage on BioVie (NASDAQ:BIVI)

ThinkEquity assumed coverage on shares of BioVie (NASDAQ:BIVI) in a report released on Monday morning, MarketBeat reports. The firm issued a buy rating and a $3.00 target price on the stock.

BioVie Stock Performance

Shares of BIVI stock opened at $0.42 on Monday. The stock’s fifty day moving average is $0.47 and its 200-day moving average is $0.78. The stock has a market capitalization of $25.43 million, a PE ratio of -0.44 and a beta of 0.74. BioVie has a 52 week low of $0.40 and a 52 week high of $5.82.

BioVie (NASDAQ:BIVI) last announced its earnings results on Tuesday, May 14th. The company reported ($0.20) EPS for the quarter.

Institutional Trading of BioVie

An institutional investor recently bought a new position in BioVie stock. CVI Holdings LLC bought a new position in shares of BioVie Inc. (NASDAQ:BIVI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 599,897 shares of the company’s stock, valued at approximately $317,000. CVI Holdings LLC owned about 1.50% of BioVie as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.