BioVie Inc. (NASDAQ:BIVI) Short Interest Up 14.7% in August

Posted by MarketBeat News on Aug 31st, 2024

BioVie Inc. (NASDAQ:BIVI – Get Free Report) was the target of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 100,000 shares, an increase of 14.7% from the July 31st total of 87,200 shares. Based on an average daily trading volume, of 96,900 shares, the short-interest ratio is presently 1.0 days. Currently, 2.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, ThinkEquity initiated coverage on shares of BioVie in a research report on Monday, July 1st. They issued a “buy” rating and a $3.00 price target for the company.

Read Our Latest Stock Report on BioVie

BioVie Trading Up 0.4 %

Want More Great Investing Ideas?

Shares of BIVI opened at $2.78 on Friday. The firm’s fifty day simple moving average is $1.32 and its two-hundred day simple moving average is $0.87. BioVie has a 12 month low of $2.07 and a 12 month high of $58.20. The stock has a market capitalization of $170.04 million, a P/E ratio of -2.96 and a beta of 0.74.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BioVie stock. CVI Holdings LLC bought a new position in BioVie Inc. (NASDAQ:BIVI – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 599,897 shares of the company’s stock, valued at approximately $317,000. CVI Holdings LLC owned approximately 1.50% of BioVie as of its most recent filing with the Securities and Exchange Commission (SEC). 4.59% of the stock is currently owned by institutional investors.

BioVie Company Profile

(Get Free Report)

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.