BioVie Inc. (NASDAQ:BIVI) Sees Large Increase in Short Interest

BioVie Inc. (NASDAQ:BIVIGet Free Report) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 1,270,000 shares, an increase of 14.4% from the April 15th total of 1,110,000 shares. Based on an average trading volume of 2,550,000 shares, the days-to-cover ratio is presently 0.5 days.

BioVie Stock Performance

NASDAQ:BIVI traded up $0.02 during mid-day trading on Tuesday, reaching $0.50. The stock had a trading volume of 428,051 shares, compared to its average volume of 1,873,641. BioVie has a twelve month low of $0.45 and a twelve month high of $7.72. The business has a 50 day simple moving average of $0.54 and a 200 day simple moving average of $1.47. The firm has a market capitalization of $19.92 million, a price-to-earnings ratio of -0.43 and a beta of 0.81.

BioVie (NASDAQ:BIVIGet Free Report) last posted its quarterly earnings results on Monday, February 12th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.10. As a group, sell-side analysts expect that BioVie will post -1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Summit Trail Advisors LLC acquired a new position in shares of BioVie during the 3rd quarter worth $34,000. Jump Financial LLC purchased a new stake in BioVie during the third quarter worth about $34,000. Sheaff Brock Investment Advisors LLC grew its position in BioVie by 276.9% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 51,400 shares of the company’s stock worth $27,000 after buying an additional 37,762 shares during the period. Finally, CVI Holdings LLC purchased a new position in BioVie in the first quarter valued at about $317,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

BioVie Company Profile

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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.

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