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

BioVie Inc. (NASDAQ:BIVI) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 194,765 shares, a growth of 27.2% from the January 15th total of 153,081 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average trading volume of 92,484 shares, the days-to-cover ratio is presently 2.1 days. Based on an average trading volume of 92,484 shares, the days-to-cover ratio is presently 2.1 days. Approximately 2.6% of the shares of the stock are short sold.

BioVie Stock Up 14.4%

Shares of BIVI opened at $1.27 on Monday. The stock’s fifty day simple moving average is $1.28 and its 200-day simple moving average is $1.69. The firm has a market capitalization of $9.58 million, a PE ratio of -0.39 and a beta of 0.56. BioVie has a 12-month low of $1.06 and a 12-month high of $18.75.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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, the stock currently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On BioVie

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP bought a new stake in shares of BioVie during the 3rd quarter valued at $62,000. Squarepoint Ops LLC acquired a new stake in shares of BioVie during the third quarter worth $63,000. XTX Topco Ltd bought a new stake in BioVie in the second quarter valued at about $40,000. NewEdge Advisors LLC increased its holdings in BioVie by 283.7% in the first 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 last quarter. Finally, Jane Street Group LLC acquired a new position in BioVie in the second quarter valued at about $57,000. 4.59% of the stock is owned by institutional investors.

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.