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

BioVie Inc. (NASDAQ:BIVI) saw a significant drop in short interest during 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. Currently, 7.1% of the company’s shares are short sold. Based on an average trading volume of 665,000 shares, the days-to-cover ratio is presently 1.9 days.

BioVie Stock Down 14.3 %

BioVie stock opened at $0.84 on Wednesday. BioVie has a 12-month low of $0.83 and a 12-month high of $7.50. The company has a market capitalization of $15.50 million, a PE ratio of -0.09 and a beta of 0.51. The firm’s fifty day moving average is $1.44 and its 200 day moving average is $2.03.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its stake in BioVie by 14,000.0% in the 4th quarter. NewEdge Advisors LLC now owns 14,100 shares of the company’s stock valued at $28,000 after acquiring an additional 14,000 shares during the period. Squarepoint Ops LLC bought a new stake in shares of BioVie in the fourth quarter valued at approximately $28,000. Northern Trust Corp purchased a new stake in shares of BioVie during the 4th quarter valued at approximately $34,000. Two Sigma Investments LP bought a new position in BioVie in the 4th quarter worth approximately $57,000. Finally, Prosperity Wealth Management Inc. purchased a new position in BioVie in the 4th quarter valued at approximately $63,000. 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.