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

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

Hedge Funds Weigh In On BioVie

Hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp acquired a new position in BioVie during the 4th quarter valued at about $34,000. NewEdge Advisors LLC lifted its holdings in BioVie by 14,000.0% in the fourth quarter. NewEdge Advisors LLC now owns 14,100 shares of the company’s stock valued at $28,000 after buying an additional 14,000 shares during the period. Bank of Montreal Can acquired a new position in shares of BioVie in the 4th quarter valued at $100,000. Geode Capital Management LLC lifted its stake in BioVie by 223.3% in the fourth quarter. Geode Capital Management LLC now owns 123,408 shares of the company’s stock valued at $247,000 after buying an additional 85,234 shares during the period. Finally, Prosperity Wealth Management Inc. bought a new position in BioVie during the 4th quarter worth approximately $63,000. Institutional investors own 4.59% of the company’s stock.

BioVie Stock Performance

BioVie stock traded up $0.06 during trading hours on Monday, hitting $1.83. 255,845 shares of the stock were exchanged, compared to its average volume of 779,341. 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’s 50-day moving average is $2.11 and its two-hundred day moving average is $2.32. BioVie has a 12 month low of $1.04 and a 12 month high of $33.10.

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

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.