Short Interest in BioVie Inc. (NASDAQ:BIVI) Grows By 174.0%

BioVie Inc. (NASDAQ:BIVI) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 383,100 shares, a growth of 174.0% from the September 15th total of 139,800 shares. Currently, 7.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 176,400 shares, the short-interest ratio is currently 2.2 days.

Analyst Upgrades and Downgrades

Separately, ThinkEquity assumed coverage on BioVie in a research note on Monday, July 1st. They issued a “buy” rating and a $3.00 price objective for the company.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BioVie stock. CVI Holdings LLC acquired a new stake in BioVie Inc. (NASDAQ:BIVI) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 599,897 shares of the company’s stock, valued at approximately $317,000. CVI Holdings LLC owned 1.50% of BioVie at the end of the most recent reporting period. Institutional investors and hedge funds own 4.59% of the company’s stock.

BioVie Trading Up 0.9 %

NASDAQ:BIVI opened at $1.18 on Friday. The firm has a fifty day simple moving average of $2.30 and a two-hundred day simple moving average of $1.11. BioVie has a 12 month low of $1.04 and a 12 month high of $58.20. The stock has a market capitalization of $9.42 million, a price-to-earnings ratio of -0.09 and a beta of 0.67.

BioVie (NASDAQ:BIVI) last issued its earnings results on Monday, September 30th. The company reported ($6.60) earnings per share (EPS) 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.