BioVie Inc. (NASDAQ:BIVI) Short Interest Update

BioVie Inc. (NASDAQ:BIVI) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,250,000 shares, a decrease of 23.8% from the February 28th total of 1,640,000 shares. Currently, 7.1% of the shares of the stock are sold short. Based on an average trading volume of 665,000 shares, the short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BIVI. Sanders Morris Harris LLC purchased a new stake in BioVie during the 4th quarter valued at about $85,000. Drive Wealth Management LLC bought a new stake in BioVie in the fourth quarter valued at approximately $120,000. Prosperity Wealth Management Inc. purchased a new stake in shares of BioVie during the fourth quarter valued at approximately $63,000. Geode Capital Management LLC grew 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 purchasing an additional 85,234 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in BioVie during the 4th quarter valued at about $100,000. 4.59% of the stock is currently owned by institutional investors.

BioVie Stock Down 14.3 %

BioVie stock opened at $0.84 on Wednesday. The stock has a market cap of $15.50 million, a price-to-earnings ratio of -0.09 and a beta of 0.51. The business has a 50-day simple moving average of $1.44 and a 200 day simple moving average of $2.03. BioVie has a 52 week low of $0.83 and a 52 week high of $7.50.

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

Wall Street Analyst Weigh In

Separately, Brookline Capital Management raised shares of BioVie to a “strong-buy” rating in a report on Tuesday, March 18th.

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.