Short Interest in BioVie Inc. (NASDAQ:BIVI) Decreases By 20.3%

BioVie Inc. (NASDAQ:BIVI) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 141,788 shares, a drop of 20.3% from the February 12th total of 177,894 shares. Based on an average daily volume of 102,551 shares, the short-interest ratio is presently 1.4 days. Approximately 1.9% of the shares of the stock are short sold. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily volume of 102,551 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On BioVie

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new position in shares of BioVie in the 4th quarter worth $25,000. Two Sigma Investments LP bought a new stake in shares of BioVie during the 3rd quarter worth $62,000. Squarepoint Ops LLC purchased a new position in BioVie in the third quarter worth $63,000. NewEdge Advisors LLC grew its position in BioVie by 283.7% in the first quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in BioVie in the second quarter valued at $57,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

BioVie Trading Up 1.4%

Shares of BIVI opened at $1.41 on Friday. The company has a market cap of $10.64 million, a PE ratio of -0.43 and a beta of 0.51. The stock has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.51. BioVie has a 12-month low of $1.06 and a 12-month high of $13.20.

BioVie (NASDAQ:BIVI) last issued its quarterly earnings data on Friday, February 6th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.04.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioVie in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BioVie has a consensus rating of “Moderate Buy”.

About BioVie

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.