BioVie Inc. (NASDAQ:BIVI – Get Free Report) was the target of a significant decrease in short interest in 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. Currently, 7.5% of the shares of the stock are sold short. Based on an average trading volume of 196,922 shares, the short-interest ratio is presently 2.8 days.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on BIVI. Wall Street Zen lowered BioVie from a “hold” rating to a “sell” rating in a research note on Monday, October 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioVie in a report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.
Check Out Our Latest Analysis on BIVI
Insider Activity
In other BioVie news, CEO Cuong Do bought 15,210 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were purchased at an average cost of $2.08 per share, for a total transaction of $31,636.80. Following the transaction, the chief executive officer directly owned 16,117 shares of the company’s stock, valued at approximately $33,523.36. The trade was a 1,676.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have bought 23,280 shares of company stock worth $49,118. Corporate insiders own 16.70% of the company’s stock.
Institutional Investors Weigh In On BioVie
An institutional investor recently bought a new stake in BioVie stock. StoneX Group Inc. bought a new position in shares of BioVie Inc. (NASDAQ:BIVI – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,983 shares of the company’s stock, valued at approximately $26,000. StoneX Group Inc. owned approximately 0.18% of BioVie 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 Stock Performance
Shares of BIVI stock opened at $1.73 on Wednesday. The firm’s 50 day moving average price is $1.62 and its 200-day moving average price is $1.52. BioVie has a one year low of $0.82 and a one year high of $3.79. The firm has a market cap of $15.02 million, a P/E ratio of -0.55 and a beta of 0.78.
BioVie (NASDAQ:BIVI – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.18).
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.
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