Short Interest in BioVie Inc. (NASDAQ:BIVI) Decreases By 51.0%

BioVie Inc. (NASDAQ:BIVI - Get Free Report) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 187,700 shares, a decrease of 51.0% from the September 30th total of 383,100 shares. Approximately 3.4% of the company's shares are short sold. Based on an average trading volume of 4,550,000 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of BioVie

An institutional investor recently bought a new position in BioVie stock. CVI Holdings LLC acquired a new stake in BioVie Inc. (NASDAQ:BIVI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 599,897 shares of the company's stock, valued at approximately $317,000. CVI Holdings LLC owned approximately 1.50% of BioVie as of its most recent SEC filing. Institutional investors and hedge funds own 4.59% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, ThinkEquity initiated coverage on BioVie in a report on Monday, July 1st. They set a "buy" rating and a $3.00 price objective for the company.

BioVie Stock Performance

Shares of NASDAQ:BIVI traded up $0.15 during trading on Friday, reaching $2.86. 5,620,987 shares of the stock were exchanged, compared to its average volume of 1,554,499. The firm's 50-day moving average price is $2.28 and its 200 day moving average price is $1.21. The firm has a market cap of $174.93 million, a price-to-earnings ratio of -3.04 and a beta of 0.67. BioVie has a 12-month low of $1.04 and a 12-month high of $58.20.

BioVie (NASDAQ:BIVI - Get Free Report) last released its quarterly earnings data on Monday, September 30th. The company reported ($6.60) earnings per share (EPS) for the quarter.

About BioVie

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.