BioVie Inc (NASDAQ: BIVI) Trading above Its 20 Day MA ($0.4698), Why Showing An Interesting Price Pattern?

BioVie Inc (NASDAQ:BIVI) does about 809.34K shares in volume on a normal day but saw 1484275 shares change hands in Monday trading. The company now has a market cap of 29.11M USD. Its current market price is $0.48, marking an increase of 10.67% compared to the previous close of $0.43. The 52 week high reached by this stock is $6.45 whilst the lowest price level in 52 weeks is $0.42.

BioVie Inc (BIVI) has a 20-day trading average at $0.4698 and the current price is -92.60% off the 52-week high compared with 13.30% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.4830 and its 200-day simple moving average is $1.8017. If we look at the stock’s price movements over the week, volatility stands at 8.39%, which decreases to 5.87% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 49.60 to suggest the stock is neutral.

The consensus objective for the share price is $5.00, suggesting that the stock has a potential upside of 90.4% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 22, 2022 when Cantor Fitzgerald initiated the stock to “Overweight” and issued a price target of $7.

BioVie Inc (BIVI) stock is up 4.35% over the week and -4.10% over the past month. Its price is -62.14% year-to-date and -91.59% over the past year.

To reach the target analysts have set, the stock logically needs to grow 90.4 percent from here.

The company has a return on investment of -192.71% and return on equity of -178.58%. The beta has a value of 1.20. Price to book ratio is 1.54.