BioVie Inc. (NASDAQ:BIVI – Get Rating) saw a significant decline in short interest in May. As of May 15th, there was short interest totalling 121,700 shares, a decline of 14.7% from the April 30th total of 142,700 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average trading volume of 37,800 shares, the short-interest ratio is presently 3.2 days.
BIVI has been the subject of several recent research reports. Oppenheimer initiated coverage on shares of BioVie in a research report on Monday, March 14th. They issued an “outperform” rating and a $9.00 target price for the company. Zacks Investment Research raised shares of BioVie from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research report on Thursday, May 26th.
Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in BioVie by 90.3% during the 3rd quarter. Renaissance Technologies LLC now owns 53,100 shares of the company’s stock valued at $355,000 after purchasing an additional 25,200 shares during the last quarter. swisspartners Ltd. raised its stake in BioVie by 45.0% during the 3rd quarter. swisspartners Ltd. now owns 80,521 shares of the company’s stock valued at $542,000 after purchasing an additional 25,000 shares during the last quarter. Long Focus Capital Management LLC acquired a new position in BioVie during the 4th quarter valued at $90,000. State Street Corp acquired a new position in BioVie during the 4th quarter valued at $67,000. Finally, Susquehanna International Group LLP acquired a new position in BioVie during the 4th quarter valued at $48,000. Institutional investors and hedge funds own 6.62% of the company’s stock.
About BioVie (Get Rating)
BioVie Inc, a clinical stage biotechnology company, engages in the discovery, development, and commercialization of drugs therapies in the United States. Its products in pipeline include BIV201, which completed Phase IIa clinical trial for the treatment of ascites due to chronic liver cirrhosis; and NE3107, which is in Phase III clinical trial for the treatment of patients with mild to moderate Alzheimer's disease and Phase I clinical trial for the treatment of Parkinson's disease.
- Get a free copy of the StockNews.com research report on BioVie (BIVI)
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