BioVie Inc. (NASDAQ:BIVI) Short Interest Update

BioVie Inc. (NASDAQ:BIVI) saw a large decrease in short interest in 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. Based on an average daily trading volume, of 665,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 7.1% of the shares of the company are sold short.

Institutional Trading of BioVie

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew its position in shares of BioVie by 14,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 14,100 shares of the company’s stock valued at $28,000 after purchasing an additional 14,000 shares in the last quarter. Squarepoint Ops LLC bought a new stake in BioVie during the fourth quarter valued at $28,000. Northern Trust Corp purchased a new position in BioVie during the fourth quarter worth about $34,000. Two Sigma Investments LP bought a new position in BioVie in the 4th quarter worth about $57,000. Finally, Prosperity Wealth Management Inc. purchased a new stake in shares of BioVie in the 4th quarter valued at about $63,000. Institutional investors own 4.59% of the company’s stock.

BioVie Stock Performance

NASDAQ:BIVI opened at $1.01 on Monday. The business’s fifty day moving average is $1.49 and its 200 day moving average is $2.06. The firm has a market cap of $18.64 million, a price-to-earnings ratio of -0.10 and a beta of 0.51. BioVie has a 52-week low of $0.99 and a 52-week high of $7.50.

BioVie (NASDAQ:BIVI) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.46) earnings per share for the quarter.

Analysts Set New Price Targets

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

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.