BioVie Inc. (NASDAQ:BIVI) Short Interest Update

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

Wall Street Analysts Forecast Growth

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

BioVie Stock Performance

Shares of NASDAQ:BIVI opened at $2.86 on Friday. BioVie has a 52-week low of $1.04 and a 52-week high of $58.20. The firm has a market capitalization of $174.93 million, a P/E ratio of -3.04 and a beta of 0.67. The stock has a 50 day moving average price of $2.28 and a 200-day moving average price of $1.21.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BioVie stock. CVI Holdings LLC acquired a new stake in shares of BioVie Inc. (NASDAQ:BIVI) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 599,897 shares of the company’s stock, valued at approximately $317,000. CVI Holdings LLC owned approximately 1.50% of BioVie as of its most recent SEC filing. 4.59% of the stock is owned by hedge funds and other institutional investors.

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.