Short Interest in BioVie Inc. (NASDAQ:BIVI) Decreases By 5.8%

BioVie Inc. (NASDAQ:BIVI) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 1,130,000 shares, a decrease of 5.8% from the May 31st total of 1,200,000 shares. Based on an average daily trading volume, of 644,900 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analysts Forecast Growth

Separately, ThinkEquity started coverage on BioVie in a research note on Monday. They issued a “buy” rating and a $3.00 price objective on the stock.

BioVie Stock Performance

BIVI stock traded up $0.01 during midday trading on Wednesday, reaching $0.42. The company’s stock had a trading volume of 144,763 shares, compared to its average volume of 1,523,520. The firm has a market capitalization of $25.43 million, a price-to-earnings ratio of -0.44 and a beta of 0.74. BioVie has a 1 year low of $0.40 and a 1 year high of $5.82. The stock has a fifty day simple moving average of $0.47 and a two-hundred day simple moving average of $0.78.

BioVie (NASDAQ:BIVI) last issued its earnings results on Tuesday, May 14th. The company reported ($0.20) EPS for the quarter.

Institutional Trading of BioVie

An institutional investor recently raised its position in BioVie stock. Sheaff Brock Investment Advisors LLC grew its stake in BioVie Inc. (NASDAQ:BIVI) by 276.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,400 shares of the company’s stock after acquiring an additional 37,762 shares during the quarter. Sheaff Brock Investment Advisors LLC owned about 0.13% of BioVie worth $27,000 at the end of the most recent quarter. 4.59% of the stock is owned by institutional investors.

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.