BioVie Inc. (NASDAQ:BIVI – Get Free Report) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 1,170,000 shares, a decrease of 44.0% from the December 31st total of 2,090,000 shares. Based on an average daily trading volume, of 6,120,000 shares, the days-to-cover ratio is currently 0.2 days.
BioVie Stock Performance
BIVI traded down $0.06 during midday trading on Thursday, reaching $1.67. 401,604 shares of the company were exchanged, compared to its average volume of 1,004,126. The stock’s 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.20. BioVie has a one year low of $1.04 and a one year high of $33.10. The stock has a market capitalization of $29.67 million, a P/E ratio of -0.15 and a beta of 0.49.
Hedge Funds Weigh In On BioVie
An institutional investor recently bought a new position in BioVie stock. Drive Wealth Management LLC bought a new position in shares of BioVie Inc. (NASDAQ:BIVI – Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 60,000 shares of the company’s stock, valued at approximately $120,000. Drive Wealth Management LLC owned approximately 0.34% of BioVie at the end of the most recent quarter. 4.59% of the stock is currently owned by hedge funds and other institutional investors.
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.
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