Short Interest in BioVie Inc. (NASDAQ:BIVI) Drops By 51.0%

BioVie Inc. (NASDAQ:BIVI) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 187,700 shares, a decrease of 51.0% from the September 30th total of 383,100 shares. Approximately 3.4% of the company’s shares are sold short. Based on an average daily volume of 4,550,000 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BioVie stock. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of BioVie Inc. (NASDAQ:BIVI) by 276.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,400 shares of the company’s stock after purchasing an additional 37,762 shares during the quarter. Sheaff Brock Investment Advisors LLC owned about 0.13% of BioVie worth $27,000 as of its most recent filing with the SEC. Institutional investors own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, ThinkEquity started coverage on shares of BioVie in a report on Monday, July 1st. They issued a “buy” rating and a $3.00 price objective for the company.

BioVie Stock Up 5.5 %

BIVI stock traded up $0.15 during mid-day trading on Friday, hitting $2.86. 5,620,987 shares of the company were exchanged, compared to its average volume of 1,554,499. The firm has a market capitalization of $174.93 million, a P/E ratio of -3.04 and a beta of 0.67. The business has a fifty day simple moving average of $2.28 and a 200-day simple moving average of $1.22. BioVie has a 12-month low of $1.04 and a 12-month high of $58.20.

BioVie (NASDAQ:BIVI) last announced its earnings results on Monday, September 30th. The company reported ($6.60) earnings per share for the quarter.

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.