Short Interest in BioVie Inc. (NASDAQ:BIVI) Declines By 8.3%

BioVie Inc. (NASDAQ:BIVI) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 139,800 shares, a drop of 8.3% from the August 31st total of 152,400 shares. Based on an average daily trading volume, of 147,700 shares, the days-to-cover ratio is presently 0.9 days. Approximately 3.7% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, ThinkEquity started coverage on shares of BioVie in a research report on Monday, July 1st. They issued a “buy” rating and a $0.30 target price for the company.

BioVie Price Performance

Shares of BIVI remained flat at $1.20 during trading hours on Tuesday. The stock had a trading volume of 44,814 shares, compared to its average volume of 158,272. BioVie has a 52 week low of $1.04 and a 52 week high of $58.20. The stock has a fifty day simple moving average of $2.05 and a two-hundred day simple moving average of $0.75. The company has a market cap of $73.40 million, a price-to-earnings ratio of -1.32 and a beta of 0.71.

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

Institutional Trading of BioVie

A hedge fund recently bought a new stake in BioVie stock. CVI Holdings LLC bought a new stake in shares of BioVie Inc. (NASDAQ:BIVI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 599,897 shares of the company’s stock, valued at approximately $317,000. CVI Holdings LLC owned approximately 1.50% of BioVie at the end of the most recent reporting period. 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.