Bioventus (NYSE:BVS) Stock Price Up 8.6% - Here's What Happened

Key Points

• Bioventus Inc. experienced an 8.6% increase in stock price, trading at $6.67 after reaching a high of $6.90.
• Analysts have given optimistic outlooks for Bioventus, with Cantor Fitzgerald rating the stock as "overweight" with a price target of $12.00, and Craig Hallum setting a target of $15.00.
• Institutional investors own approximately 62.94% of Bioventus, with significant recent investments from firms like AlphaQuest LLC and Knights of Columbus Asset Advisors LLC.

Bioventus Inc. (NYSE:BVS - Get Free Report)'s share price shot up 8.6% on Wednesday . The company traded as high as $6.90 and last traded at $6.67. 132,869 shares were traded during mid-day trading, a decline of 66% from the average session volume of 385,331 shares. The stock had previously closed at $6.14.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BVS. Cantor Fitzgerald began coverage on shares of Bioventus in a research note on Monday, July 7th. They issued an "overweight" rating and a $12.00 price objective on the stock. Craig Hallum set a $15.00 target price on shares of Bioventus and gave the company a "buy" rating in a report on Wednesday, May 7th.

Bioventus Stock Performance

The company's fifty day moving average price is $6.67 and its 200 day moving average price is $7.99. The company has a market cap of $568.44 million, a PE ratio of -11.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99.

Institutional Trading of Bioventus

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in Bioventus by 106.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,469 shares of the company's stock worth $36,000 after buying an additional 1,786 shares during the last quarter. GAMMA Investing LLC increased its holdings in Bioventus by 3,228.7% during the first quarter. GAMMA Investing LLC now owns 5,792 shares of the company's stock worth $53,000 after buying an additional 5,618 shares during the last quarter. Russell Investments Group Ltd. increased its holdings 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 buying an additional 6,178 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Bioventus during the second quarter worth about $72,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Bioventus in the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 62.94% of the company's stock.

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.