BioVie Inc. (NASDAQ:BIVI) Short Interest Up 922.9% in October

BioVie Inc. (NASDAQ:BIVI) was the recipient of a large growth in short interest during the month of 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 volume of 5,160,000 shares, the days-to-cover ratio is currently 0.4 days.

BioVie Price Performance

Shares of NASDAQ BIVI opened at $3.41 on Thursday. The stock’s 50-day moving average is $2.20 and its 200 day moving average is $1.41. BioVie has a 1-year low of $1.04 and a 1-year high of $58.20.

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

Institutional Investors Weigh In On BioVie

An institutional investor recently raised its position in BioVie stock. Sheaff Brock Investment Advisors LLC grew its stake in shares of BioVie Inc. (NASDAQ:BIVI) by 276.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,400 shares of the company’s stock after purchasing an additional 37,762 shares during the quarter. Sheaff Brock Investment Advisors LLC owned approximately 0.13% of BioVie worth $27,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.