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

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

BioVie Trading Up 5.5 %

NASDAQ BIVI traded up $0.15 on Friday, hitting $2.86. 5,620,987 shares of the company’s stock traded hands, compared to its average volume of 1,554,499. BioVie has a 1-year low of $1.04 and a 1-year high of $58.20. The firm’s 50-day moving average price is $2.28 and its two-hundred day moving average price is $1.22. The firm has a market capitalization of $174.93 million, a PE ratio of -3.04 and a beta of 0.67.

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

Hedge Funds Weigh In On BioVie

A hedge fund recently bought a new stake in BioVie stock. CVI Holdings LLC acquired a new position in shares of BioVie Inc. (NASDAQ:BIVI) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 599,897 shares of the company’s stock, valued at approximately $317,000. CVI Holdings LLC owned 1.50% of BioVie as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 4.59% of the company’s stock.

Analyst Ratings Changes

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

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.