Bioventus (NYSE:BVS) Stock Price Down 5.3% - Time to Sell?

Key Points

• Bioventus Inc. (NYSE:BVS) shares fell by 5.3%, closing at $6.79, with a significant drop in trading volume compared to its average.
• Analysts have given the stock a consensus rating of "Moderate Buy" with an average price target of $13.75, indicating potential for growth despite recent declines.
• Institutional investors hold 62.94% of Bioventus stock, with notable increases in stakes from firms like Northern Trust Corp and Deutsche Bank AG during the last quarter.

Shares of Bioventus Inc. (NYSE:BVS - Get Free Report) were down 5.3% on Tuesday . The stock traded as low as $6.81 and last traded at $6.79. Approximately 220,641 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 394,944 shares. The stock had previously closed at $7.17.

Analyst Ratings Changes

Separately, Cantor Fitzgerald started coverage on shares of Bioventus in a report on Monday, July 7th. They issued an "overweight" rating and a $12.00 target price for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.75.

Bioventus Trading Down 3.8%

The business has a fifty day moving average price of $6.95 and a two-hundred day moving average price of $7.36. The firm has a market capitalization of $572.97 million, a PE ratio of -11.36 and a beta of 0.84. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85.

Hedge Funds Weigh In On Bioventus

A number of hedge funds and other institutional investors have recently bought and sold shares of BVS. Nantahala Capital Management LLC boosted its stake in shares of Bioventus by 28.0% in the 2nd quarter. Nantahala Capital Management LLC now owns 5,280,842 shares of the company's stock valued at $34,959,000 after buying an additional 1,155,192 shares during the period. Vanguard Group Inc. grew its stake in shares of Bioventus by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 2,554,224 shares of the company's stock valued at $23,371,000 after purchasing an additional 92,143 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Bioventus by 29.1% in the first quarter. Driehaus Capital Management LLC now owns 1,445,257 shares of the company's stock valued at $13,224,000 after buying an additional 325,402 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Bioventus by 7.6% in the second quarter. American Century Companies Inc. now owns 1,124,041 shares of the company's stock valued at $7,441,000 after buying an additional 79,829 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Bioventus by 13.1% during the second quarter. Geode Capital Management LLC now owns 1,054,903 shares of the company's stock worth $6,984,000 after purchasing an additional 122,137 shares in the last quarter. 62.94% of the stock is currently owned by hedge funds and other institutional investors.

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.