Short Interest in BioVie Inc. (NASDAQ:BIVI) Drops By 44.0%

BioVie Inc. (NASDAQ:BIVI) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 1,170,000 shares, a drop of 44.0% from the December 31st total of 2,090,000 shares. Based on an average daily volume of 6,120,000 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On BioVie

A hedge fund recently bought a new stake in BioVie stock. Drive Wealth Management LLC purchased a new stake in BioVie Inc. (NASDAQ:BIVI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,000 shares of the company’s stock, valued at approximately $120,000. Drive Wealth Management LLC owned about 0.34% of BioVie as of its most recent filing with the Securities and Exchange Commission (SEC). 4.59% of the stock is owned by institutional investors.

BioVie Trading Up 1.7 %

NASDAQ:BIVI opened at $1.81 on Wednesday. BioVie has a twelve month low of $1.04 and a twelve month high of $33.10. The company’s 50 day moving average is $2.41 and its two-hundred day moving average is $2.20. The company has a market cap of $32.16 million, a PE ratio of -0.16 and a beta of 0.49.

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.