BioVie Inc. (NASDAQ:BIVI) Short Interest Down 23.8% in March

BioVie Inc. (NASDAQ:BIVI) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,250,000 shares, a drop of 23.8% from the February 28th total of 1,640,000 shares. Based on an average daily volume of 665,000 shares, the short-interest ratio is presently 1.9 days. Approximately 7.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On BioVie

A number of large investors have recently added to or reduced their stakes in the company. Sanders Morris Harris LLC acquired a new position in shares of BioVie during the fourth quarter worth about $85,000. Drive Wealth Management LLC bought a new stake in BioVie in the 4th quarter valued at approximately $120,000. Prosperity Wealth Management Inc. bought a new position in shares of BioVie during the 4th quarter worth approximately $63,000. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 85,234 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of BioVie in the fourth quarter worth $100,000. Institutional investors own 4.59% of the company’s stock.

BioVie Stock Performance

Shares of BIVI opened at $0.98 on Tuesday. The stock has a 50 day simple moving average of $1.47 and a 200 day simple moving average of $2.04. BioVie has a 52-week low of $0.91 and a 52-week high of $7.50. The firm has a market capitalization of $18.08 million, a PE ratio of -0.10 and a beta of 0.51.

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

BioVie Company Profile

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.