BioVie Inc. (NASDAQ:BIVI) Short Interest Update

BioVie Inc. (NASDAQ:BIVI) saw a large decline in short interest in the month of 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. Approximately 3.4% of the shares of the company are short sold. Based on an average daily volume of 4,550,000 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On 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) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 599,897 shares of the company’s stock, valued at approximately $317,000. CVI Holdings LLC owned 1.50% of BioVie at the end of the most recent reporting period. Institutional investors and hedge funds own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, ThinkEquity assumed coverage on BioVie in a research note on Monday, July 1st. They issued a “buy” rating and a $3.00 target price on the stock.

BioVie Trading Up 5.5 %

BIVI opened at $2.86 on Friday. The stock has a 50-day moving average price of $2.28 and a 200-day moving average price of $1.21. BioVie has a 12-month low of $1.04 and a 12-month high of $58.20. The stock has a market capitalization of $174.93 million, a P/E ratio of -3.04 and a beta of 0.67.

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

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.