Short Interest in BioVie Inc. (NASDAQ:BIVI) Decreases By 23.8%

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

BioVie Trading Down 6.5 %

BIVI opened at $1.01 on Monday. The stock has a market capitalization of $18.64 million, a P/E ratio of -0.10 and a beta of 0.51. The stock has a 50-day moving average price of $1.49 and a 200-day moving average price of $2.06. BioVie has a 12-month low of $0.99 and a 12-month high of $7.50.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On BioVie

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in BioVie by 223.3% in the 4th quarter. Geode Capital Management LLC now owns 123,408 shares of the company’s stock worth $247,000 after purchasing an additional 85,234 shares during the period. Millennium Management LLC purchased a new position in shares of BioVie in the fourth quarter worth about $245,000. Drive Wealth Management LLC bought a new stake in shares of BioVie in the 4th quarter valued at about $120,000. Bank of Montreal Can purchased a new stake in BioVie during the 4th quarter valued at about $100,000. Finally, Sanders Morris Harris LLC bought a new position in BioVie during the 4th quarter worth approximately $85,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

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.