BioVie Inc. (NASDAQ:BIVI) Short Interest Up 21.8% in February

BioVie Inc. (NASDAQ:BIVI) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 1,790,000 shares, an increase of 21.8% from the January 31st total of 1,470,000 shares. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Investors Weigh In On BioVie

Several institutional investors and hedge funds have recently bought and sold shares of BIVI. Millennium Management LLC bought a new stake in BioVie during the fourth quarter worth about $245,000. Geode Capital Management LLC lifted its holdings in shares of BioVie by 223.3% in the fourth quarter. Geode Capital Management LLC now owns 123,408 shares of the company’s stock worth $247,000 after acquiring an additional 85,234 shares during the last quarter. Drive Wealth Management LLC bought a new position in shares of BioVie in the fourth quarter worth about $120,000. Bank of Montreal Can bought a new position in shares of BioVie in the fourth quarter worth about $100,000. Finally, Sanders Morris Harris LLC bought a new position in shares of BioVie in the fourth quarter worth about $85,000. Institutional investors own 4.59% of the company’s stock.

BioVie Stock Performance

Shares of BioVie stock opened at $1.20 on Friday. The firm has a 50-day moving average of $1.84 and a 200-day moving average of $2.27. The stock has a market cap of $22.14 million, a PE ratio of -0.12 and a beta of 0.51. BioVie has a 52-week low of $1.04 and a 52-week high of $8.30.

BioVie (NASDAQ:BIVI) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.46) earnings per share for the quarter.

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.