Bioventus (NYSE:BVS) Trading Down 5.9% – Here’s Why

Shares of Bioventus Inc. (NYSE:BVS) fell 5.9% during mid-day trading on Wednesday . The company traded as low as $9.97 and last traded at $10.16. 258,471 shares changed hands during trading, a decline of 38% from the average session volume of 418,376 shares. The stock had previously closed at $10.80.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised Bioventus from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $12.00 to $13.00 in a research report on Tuesday, December 17th.

Bioventus Trading Down 6.2 %

The stock has a 50-day simple moving average of $10.13 and a 200 day simple moving average of $11.02. The company has a market cap of $822.10 million, a price-to-earnings ratio of -16.59 and a beta of 0.86. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85.

Insider Activity at Bioventus

In related news, SVP Anthony D’adamio sold 4,380 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total transaction of $44,632.20. Following the completion of the transaction, the senior vice president now owns 118,178 shares of the company’s stock, valued at approximately $1,204,233.82. This trade represents a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katrina J. Church sold 2,535 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $10.53, for a total value of $26,693.55. Following the completion of the sale, the senior vice president now directly owns 47,264 shares in the company, valued at $497,689.92. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,932 shares of company stock worth $512,511 in the last three months. Company insiders own 32.90% of the company’s stock.

Institutional Trading of Bioventus

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. acquired a new stake in Bioventus in the third quarter valued at $210,000. Covestor Ltd purchased a new stake in Bioventus during the third quarter worth approximately $69,000. Los Angeles Capital Management LLC purchased a new stake in shares of Bioventus during the 3rd quarter valued at about $1,714,000. GSA Capital Partners LLP lifted its stake in shares of Bioventus by 85.6% in the third quarter. GSA Capital Partners LLP now owns 58,832 shares of the company’s stock worth $703,000 after acquiring an additional 27,132 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Bioventus in the 3rd quarter valued at approximately $385,000. Institutional investors and hedge funds own 62.94% of the company’s stock.

About Bioventus

Bioventus Inc, a medical device company, focuses on developing and commercializing treatments that engage and enhance the body's natural healing process in the United States and internationally. The company's product portfolio includes pain treatments, which comprise non-surgical pain injection therapies, as well as peripheral nerve stimulation products, such as Durolane, GELSYN-3, and SUPARTZ for the treatment of knee osteoarthritis and Stimrouter to treat chronic peripheral pain.