BioVie Sees Unusually High Options Volume (NASDAQ:BIVI)

BioVie Inc. (NASDAQ:BIVI) saw some unusual options trading on Monday. Stock traders acquired 2,043 call options on the stock. This represents an increase of 2,661% compared to the typical daily volume of 74 call options.

Institutional Trading of BioVie

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

BioVie Price Performance

BIVI stock opened at $3.36 on Wednesday. BioVie has a 1-year low of $1.04 and a 1-year high of $58.20. The business has a fifty day moving average price of $2.28 and a 200-day moving average price of $1.18. The stock has a market capitalization of $205.52 million, a P/E ratio of -3.57 and a beta of 0.67.

BioVie (NASDAQ:BIVI) last posted its quarterly earnings results on Monday, September 30th. The company reported ($6.60) earnings per share for the quarter.

Wall Street Analyst Weigh In

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

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.