Drive Wealth Management LLC Takes $120,000 Position in BioVie Inc. (NASDAQ:BIVI)

Drive Wealth Management LLC purchased a new stake in shares of BioVie Inc. (NASDAQ:BIVI) during the 4th quarter, Holdings Channel reports. The fund purchased 60,000 shares of the company’s stock, valued at approximately $120,000.

Separately, Sanders Morris Harris LLC purchased a new stake in BioVie during the 4th quarter valued at $85,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

BioVie Stock Performance

NASDAQ:BIVI opened at $1.81 on Wednesday. The stock’s fifty day moving average is $2.44 and its 200 day moving average is $2.19. BioVie Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $33.10. The firm has a market capitalization of $32.16 million, a PE ratio of -0.16 and a beta of 0.49.

BioVie 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.