BioVie Inc. (NASDAQ:BIVI) Sees Large Growth in Short Interest

BioVie Inc. (NASDAQ:BIVI) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,920,000 shares, a growth of 922.9% from the October 15th total of 187,700 shares. Based on an average trading volume of 5,160,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately 35.0% of the shares of the company are short sold.

BioVie Price Performance

Shares of BIVI traded up $0.36 during trading hours on Tuesday, reaching $3.35. 4,736,990 shares of the company’s stock traded hands, compared to its average volume of 1,654,124. The business’s fifty day simple moving average is $2.19 and its two-hundred day simple moving average is $1.39. The firm has a market capitalization of $31.26 million, a price-to-earnings ratio of -0.25 and a beta of 0.40. BioVie has a twelve month low of $1.04 and a twelve month high of $58.20.

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

Institutional Investors Weigh In On BioVie

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