BioVie Inc. (NASDAQ:BIVI) Short Interest Update

BioVie Inc. (NASDAQ:BIVI) saw a large drop in short interest in 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. Currently, 3.7% of the company’s shares are short sold. Based on an average daily volume of 147,700 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in BioVie stock. Sheaff Brock Investment Advisors LLC lifted its position in shares of BioVie Inc. (NASDAQ:BIVI) by 276.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,400 shares of the company’s stock after acquiring an additional 37,762 shares during the period. Sheaff Brock Investment Advisors LLC owned about 0.13% of BioVie worth $27,000 at the end of the most recent reporting period. 4.59% of the stock is owned by institutional investors and hedge funds.

BioVie Price Performance

Shares of NASDAQ:BIVI remained flat at $1.20 during trading on Tuesday. The company had a trading volume of 44,814 shares, compared to its average volume of 158,272. The stock has a market capitalization of $73.40 million, a P/E ratio of -1.32 and a beta of 0.71. BioVie has a fifty-two week low of $1.04 and a fifty-two week high of $58.20. The firm’s fifty day simple moving average is $2.05 and its 200-day simple moving average is $0.75.

BioVie (NASDAQ:BIVI) last posted its quarterly earnings results 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.