Short Interest in BioVie Inc. (NASDAQ:BIVI) Expands By 922.9%

BioVie Inc. (NASDAQ:BIVI) was the target of a large growth in short interest in 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. Approximately 35.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,160,000 shares, the days-to-cover ratio is presently 0.4 days.

BioVie Stock Performance

NASDAQ BIVI traded up $0.36 on Tuesday, reaching $3.35. 4,736,990 shares of the stock traded hands, compared to its average volume of 1,654,124. BioVie has a 12 month low of $1.04 and a 12 month high of $58.20. The company has a fifty day moving average price of $2.19 and a 200-day moving average price of $1.39. The company has a market cap of $31.26 million, a price-to-earnings ratio of -0.24 and a beta of 0.40.

BioVie (NASDAQ:BIVI) last issued its quarterly earnings results 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 boosted its position in shares of BioVie Inc. (NASDAQ:BIVI) by 276.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,400 shares of the company’s stock after buying an additional 37,762 shares during the period. Sheaff Brock Investment Advisors LLC owned 0.13% of BioVie worth $27,000 at the end of the most recent quarter. 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.