BioVie Inc. (NASDAQ:BIVI) Sees Significant Decrease in Short Interest

BioVie Inc. (NASDAQ:BIVI) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,250,000 shares, a drop of 23.8% from the February 28th total of 1,640,000 shares. Based on an average trading volume of 665,000 shares, the short-interest ratio is currently 1.9 days. Currently, 7.1% of the shares of the company are short sold.

BioVie Trading Down 3.0 %

BIVI opened at $0.98 on Tuesday. The stock’s fifty day simple moving average is $1.47 and its 200 day simple moving average is $2.04. BioVie has a 1-year low of $0.91 and a 1-year high of $7.50. The stock has a market cap of $18.08 million, a PE ratio of -0.10 and a beta of 0.51.

BioVie (NASDAQ:BIVI) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.46) earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Brookline Capital Management upgraded BioVie to a “strong-buy” rating in a report on Tuesday, March 18th.

Institutional Investors Weigh In On BioVie

Several hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in shares of BioVie by 14,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 14,100 shares of the company’s stock worth $28,000 after purchasing an additional 14,000 shares during the period. Squarepoint Ops LLC acquired a new position in BioVie in the 4th quarter valued at $28,000. Northern Trust Corp bought a new position in BioVie during the 4th quarter worth $34,000. Two Sigma Investments LP acquired a new stake in shares of BioVie during the fourth quarter worth $57,000. Finally, Prosperity Wealth Management Inc. bought a new stake in shares of BioVie in the fourth quarter valued at about $63,000. 4.59% of the stock is currently owned by institutional investors and hedge funds.

About BioVie

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.