BioVie Inc. (NASDAQ:BIVI – Get Free Report) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 1,170,000 shares, a drop of 44.0% from the December 15th total of 2,090,000 shares. Based on an average trading volume of 6,120,000 shares, the short-interest ratio is currently 0.2 days.
BioVie Price Performance
Shares of BioVie stock traded up $0.21 on Wednesday, hitting $2.22. 883,415 shares of the company’s stock traded hands, compared to its average volume of 1,299,666. The company has a fifty day moving average of $2.62 and a two-hundred day moving average of $2.09. BioVie has a one year low of $1.04 and a one year high of $33.10. The company has a market capitalization of $39.44 million, a price-to-earnings ratio of -0.19 and a beta of 0.49.
Institutional Investors Weigh In On BioVie
A hedge fund recently bought a new stake in BioVie stock. Sanders Morris Harris LLC acquired a new position in BioVie Inc. (NASDAQ:BIVI – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $85,000. Sanders Morris Harris LLC owned approximately 0.23% of BioVie as of its most recent filing with the Securities and Exchange Commission. 4.59% of the stock is currently owned by institutional investors and hedge funds.
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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