BioVie Inc. (NASDAQ:BIVI) Short Interest Up 56.7% in August

BioVie Inc. (NASDAQ:BIVI) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 1,254,452 shares, a growth of 56.7% from the July 30th total of 800,586 shares. Currently, 15.0% of the company’s shares are short sold. Based on an average trading volume of 14,966,326 shares, the days-to-cover ratio is presently 0.1 days.

Insider Transactions at BioVie

In related news, CEO Cuong V. Do purchased 15,210 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were acquired at an average cost of $2.08 per share, with a total value of $31,636.80. Following the purchase, the chief executive officer directly owned 16,117 shares of the company’s stock, valued at approximately $33,523.36. This trade represents a 1,676.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders purchased 23,280 shares of company stock worth $49,118. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioVie

Several institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in shares of BioVie during the 4th quarter worth $25,000. Two Sigma Investments LP acquired a new position in BioVie during the 3rd quarter valued at approximately $62,000. Squarepoint Ops LLC purchased a new position in shares of BioVie in the third quarter worth $63,000. NewEdge Advisors LLC raised its holdings in shares of BioVie by 283.7% in the first quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after buying an additional 40,000 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of BioVie during the second quarter worth $57,000. 4.59% of the stock is owned by institutional investors.

BioVie Stock Performance

Shares of BioVie stock opened at $2.24 on Wednesday. The stock has a market cap of $18.93 million, a P/E ratio of -0.71 and a beta of 0.73. The stock’s fifty day moving average is $1.72 and its 200 day moving average is $1.55. BioVie has a one year low of $0.82 and a one year high of $3.79.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of BioVie in a research note on Friday, July 17th. Wall Street Zen upgraded shares of BioVie to a “sell” rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BioVie currently has a consensus rating of “Sell”.

About BioVie

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.