The stock of BioVie Inc (NASDAQ: BIVI) has decreased by -53.57 when compared to last closing price of 2.80. Despite this, the company has experienced a -55.94% fall in its stock price over the last five trading sessions. globenewswire.com reported 2024-09-23 that CARSON CITY, Nev., Sept. 23, 2024 (GLOBE NEWSWIRE) — BioVie Inc. (NASDAQ: BIVI), (“BioVie” or the “Company”), a clinical-stage company developing innovative drug therapies to treat chronic debilitating conditions including liver disease and neurological and neuro-degenerative disorders, today announced the pricing of a best efforts public offering of 1,960,800 shares of its common stock (or pre-funded warrants (“Pre-funded Warrants”) in lieu thereof) and warrants to purchase up to 1,960,800 shares of common stock at a combined offering price of $1.53 per share (or Pre-funded Warrant) and associated warrant. The warrants will have an exercise price of $1.53 per share and will be immediately exercisable upon issuance for a period of five years following the date of issuance. The gross proceeds to the Company from the offering are expected to be approximately $3,000,000, before deducting placement agent fees and offering expenses. The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes. All of the shares of common stock (or Pre-funded Warrants) and associated warrants are being offered by the Company. The offering is expected to close on September 25, 2024, subject to satisfaction of customary closing conditions.
Is It Worth Investing in BioVie Inc (NASDAQ: BIVI) Right Now?
The 36-month beta value for BIVI is also noteworthy at 1.10. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for BIVI is 3.83M, and at present, short sellers hold a 3.98% of that float. The average trading volume of BIVI on September 24, 2024 was 106.44K shares.
BIVI’s Market Performance
BIVI stock saw a decrease of -55.94% in the past week, with a monthly decline of -59.76% and a quarterly a decrease of -71.04%. The volatility ratio for the week is 7.48%, and the volatility levels for the last 30 days are 9.23% for BioVie Inc (BIVI). The simple moving average for the past 20 days is -53.99% for BIVI’s stock, with a -81.02% simple moving average for the past 200 days.
Analysts’ Opinion of BIVI
Many brokerage firms have already submitted their reports for BIVI stocks, with Cantor Fitzgerald repeating the rating for BIVI by listing it as a “Overweight.” The predicted price for BIVI in the upcoming period, according to Cantor Fitzgerald is $7 based on the research report published on July 22, 2022 of the previous year 2022.
B. Riley Securities, on the other hand, stated in their research note that they expect to see BIVI reach a price target of $47. The rating they have provided for BIVI stocks is “Buy” according to the report published on January 15th, 2021.
BIVI Trading at -59.45% from the 50-Day Moving Average
After a stumble in the market that brought BIVI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -97.77% of loss for the given period.
Volatility was left at 9.23%, however, over the last 30 days, the volatility rate increased by 7.48%, as shares sank -57.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -70.87% lower at present.
During the last 5 trading sessions, BIVI fell by -56.95%, which changed the moving average for the period of 200-days by -92.82% in comparison to the 20-day moving average, which settled at $2.74. In addition, BioVie Inc saw -89.68% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BIVI starting from GORLIN STEVE, who sale 75,680 shares at the price of $1.69 back on Dec 01 ’23. After this action, GORLIN STEVE now owns 46,358 shares of BioVie Inc, valued at $127,899 using the latest closing price.
DO CUONG V, the President & CEO of BioVie Inc, purchase 10,000 shares at $1.78 during a trade that took place back on Nov 30 ’23, which means that DO CUONG V is holding 68,759 shares at $17,800 based on the most recent closing price.
Stock Fundamentals for BIVI
The total capital return value is set at -1.99. Equity return is now at value -178.58, with -94.32 for asset returns.
Based on BioVie Inc (BIVI), the company’s capital structure generated 0.31 points at debt to capital in total, while cash flow to debt ratio is standing at -4.19. The debt to equity ratio resting at 0.44. The interest coverage ratio of the stock is -10.77.
Currently, EBITDA for the company is -44.29 million with net debt to EBITDA at 0.59. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.45.
Conclusion
In summary, BioVie Inc (BIVI) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
