Bioventus (NYSE:BVS) Shares Down 3.6% - Should You Sell?

Bioventus Inc. (NYSE:BVS - Get Free Report)'s share price traded down 3.6% during mid-day trading on Thursday . The company traded as low as $6.47 and last traded at $6.45. 25,882 shares were traded during mid-day trading, a decline of 93% from the average session volume of 359,135 shares. The stock had previously closed at $6.69.

Analysts Set New Price Targets

A number of research firms have weighed in on BVS. Canaccord Genuity Group reaffirmed a "buy" rating and set a $15.00 price target on shares of Bioventus in a research report on Monday, March 17th. Craig Hallum set a $15.00 price objective on shares of Bioventus and gave the stock a "buy" rating in a research report on Wednesday, May 7th.

Bioventus Trading Down 4.3%

The firm has a market cap of $526.13 million, a price-to-earnings ratio of -10.50 and a beta of 0.86. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99. The business has a 50-day moving average of $6.83 and a 200-day moving average of $8.83.

Insiders Place Their Bets

In other news, CFO Mark Leonard Singleton sold 3,875 shares of Bioventus stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $7.57, for a total value of $29,333.75. Following the completion of the transaction, the chief financial officer now owns 141,088 shares of the company's stock, valued at $1,068,036.16. This trade represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 33.00% of the company's stock.

Institutional Investors Weigh In On Bioventus

Several hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in shares of Bioventus by 106.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,469 shares of the company's stock valued at $36,000 after buying an additional 1,786 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Bioventus in the 4th quarter valued at $38,000. GAMMA Investing LLC lifted its holdings in Bioventus by 3,228.7% during the 1st quarter. GAMMA Investing LLC now owns 5,792 shares of the company's stock valued at $53,000 after purchasing an additional 5,618 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Bioventus by 23,761.5% during the first quarter. Russell Investments Group Ltd. now owns 6,204 shares of the company's stock worth $57,000 after purchasing an additional 6,178 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Bioventus in the fourth quarter valued at $75,000. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Bioventus Company Profile

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.

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