Short Interest in BioVie Inc. (NASDAQ:BIVI) Declines By 13.5%

BioVie Inc. (NASDAQ:BIVI) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,470,000 shares, a decline of 13.5% from the January 15th total of 1,700,000 shares. Based on an average daily trading volume, of 1,530,000 shares, the short-interest ratio is currently 1.0 days.

Hedge Funds Weigh In On BioVie

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in shares of BioVie by 14,000.0% during the fourth 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 during the period. Northern Trust Corp acquired a new stake in BioVie during the fourth quarter worth $34,000. Prosperity Wealth Management Inc. bought a new stake in BioVie in the 4th quarter valued at $63,000. Sanders Morris Harris LLC acquired a new position in shares of BioVie in the 4th quarter valued at $85,000. Finally, Bank of Montreal Can acquired a new stake in shares of BioVie during the 4th quarter valued at about $100,000. 4.59% of the stock is currently owned by institutional investors.

BioVie Stock Up 3.4 %

Shares of BIVI stock traded up $0.06 during trading hours on Monday, reaching $1.83. 255,845 shares of the company’s stock were exchanged, compared to its average volume of 779,341. BioVie has a fifty-two week low of $1.04 and a fifty-two week high of $33.10. The stock has a market capitalization of $32.52 million, a P/E ratio of -0.16 and a beta of 0.47. The business has a fifty day moving average price of $2.11 and a 200-day moving average price of $2.32.

BioVie (NASDAQ:BIVI) last released its earnings results on Tuesday, February 11th. The company reported ($0.46) 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.