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

BioVie Inc. (NASDAQ:BIVI) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 544,444 shares, a decrease of 34.5% from the September 30th total of 831,296 shares. Based on an average trading volume of 196,922 shares, the short-interest ratio is currently 2.8 days. Approximately 7.5% of the company’s shares are short sold.

Insider Activity at BioVie

In other BioVie news, CEO Cuong Do purchased 15,210 shares of the stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost of $2.08 per share, for a total transaction of $31,636.80. Following the acquisition, the chief executive officer owned 16,117 shares in the company, valued at $33,523.36. This trade represents a 1,676.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders acquired 23,280 shares of company stock valued at $49,118. Corporate insiders own 16.70% of the company’s stock.

Institutional Investors Weigh In On BioVie

A hedge fund recently raised its position in BioVie stock. Renaissance Technologies LLC raised its position in BioVie Inc. (NASDAQ:BIVI) by 142.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,918 shares of the company’s stock after buying an additional 39,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.90% of BioVie worth $95,000 as of its most recent filing with the Securities and Exchange Commission. 4.59% of the stock is owned by hedge funds and other institutional investors.

BioVie Trading Down 4.2%

NASDAQ:BIVI opened at $1.37 on Tuesday. The stock has a fifty day moving average price of $1.63 and a 200 day moving average price of $1.51. The firm has a market cap of $11.90 million, a PE ratio of -0.43 and a beta of 0.73. BioVie has a 12-month low of $0.82 and a 12-month high of $3.79.

BioVie (NASDAQ:BIVI) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.18).

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BIVI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioVie in a research report on Thursday, October 15th. Wall Street Zen cut BioVie from a “hold” rating to a “sell” rating in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has a consensus rating of “Sell”.

About BioVie

BioVie Inc is a clinical-stage biopharmaceutical company focused on developing therapies for neurological, neurodegenerative and inflammatory diseases. Its research programs are aimed at addressing disease mechanisms such as chronic inflammation, insulin resistance and impaired cellular signaling.

The company’s lead investigational product, bezisterim (also known as NE3107), is an orally administered, blood-brain barrier-penetrating small molecule being studied for potential use in disorders including Alzheimer’s disease and Parkinson’s disease.