Short Interest in BioVie Inc. (NASDAQ:BIVI) Declines By 13.5%

BioVie Inc. (NASDAQ:BIVI) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,470,000 shares, a decline of 13.5% from the January 15th total of 1,700,000 shares. Based on an average trading volume of 1,530,000 shares, the short-interest ratio is currently 1.0 days.

BioVie Stock Up 3.4 %

Shares of BIVI stock opened at $1.83 on Tuesday. The stock has a market capitalization of $32.52 million, a PE ratio of -0.16 and a beta of 0.47. BioVie has a 52-week low of $1.04 and a 52-week high of $33.10. The stock’s 50-day moving average price is $2.09 and its 200 day moving average price is $2.34.

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

Hedge Funds Weigh In On BioVie

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIVI. Millennium Management LLC acquired a new position in BioVie during the 4th quarter worth approximately $245,000. Geode Capital Management LLC increased its position in BioVie by 223.3% during the 4th quarter. Geode Capital Management LLC now owns 123,408 shares of the company’s stock worth $247,000 after purchasing an additional 85,234 shares during the period. Drive Wealth Management LLC acquired a new position in BioVie during the 4th quarter worth approximately $120,000. Bank of Montreal Can acquired a new position in BioVie during the 4th quarter worth approximately $100,000. Finally, Sanders Morris Harris LLC acquired a new position in BioVie during the 4th quarter worth approximately $85,000. Institutional investors and hedge funds own 4.59% of the company’s stock.

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.