BioVie Inc. (NASDAQ:BIVI) Sees Significant Drop in Short Interest

BioVie Inc. (NASDAQ:BIVI) was the target of a large decrease in short interest in February. As of February 27th, there was short interest totaling 141,788 shares, a decrease of 20.3% from the February 12th total of 177,894 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average daily volume of 102,551 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 102,551 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.9% of the company’s stock are sold short.

BioVie Price Performance

Shares of BIVI opened at $1.41 on Monday. The business’s fifty day moving average price is $1.26 and its 200 day moving average price is $1.51. BioVie has a 12-month low of $1.06 and a 12-month high of $13.20. The stock has a market capitalization of $10.63 million, a PE ratio of -0.43 and a beta of 0.51.

BioVie (NASDAQ:BIVI) last issued its earnings results on Friday, February 6th. The company reported ($0.77) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.04.

Hedge Funds Weigh In On BioVie

Large investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in shares of BioVie in the 4th quarter worth approximately $25,000. NewEdge Advisors LLC boosted its position in BioVie by 283.7% during the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock valued at $53,000 after purchasing an additional 40,000 shares during the period. Jane Street Group LLC bought a new position in BioVie during the 2nd quarter worth $57,000. Two Sigma Investments LP acquired a new stake in BioVie in the third quarter worth $62,000. Finally, Squarepoint Ops LLC acquired a new stake in BioVie in the third quarter worth $63,000. Institutional investors own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioVie in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BioVie has a consensus rating of “Moderate Buy”.

BioVie Company Profile

BioVie Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for chronic liver diseases and associated neurological complications. The company’s research and development efforts center on candidates designed to address serious unmet medical needs in hepatic encephalopathy and other liver‐related disorders. BioVie advances its pipeline through controlled clinical trials and regulatory interactions in North America.

The company’s lead product candidate, BIV201, is undergoing Phase 2 clinical evaluation for the treatment of hepatic encephalopathy, a life‐threatening condition marked by elevated neurotoxins in patients with advanced liver disease.