Bioventus (NYSE:BVS) Trading 8.6% Higher - 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 stock price traded up 8.6% during trading 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 equities analysts have recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Bioventus in a research report on Monday, July 7th. They issued an "overweight" rating and a $12.00 price target on the stock. Craig Hallum set a $15.00 target price on shares of Bioventus and gave the stock a "buy" rating in a research report on Wednesday, May 7th.

Bioventus Price Performance

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 stock's 50 day simple moving average is $6.64 and its two-hundred day simple moving average is $8.07. The stock has a market cap of $587.25 million, a price-to-earnings ratio of -11.77 and a beta of 0.83.

Institutional Investors Weigh In On Bioventus

Several large investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Bioventus in the 2nd quarter worth about $179,000. AlphaQuest LLC grew its holdings in shares of Bioventus by 300.9% in the 2nd quarter. AlphaQuest LLC now owns 30,473 shares of the company's stock worth $202,000 after purchasing an additional 22,872 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Bioventus in the 2nd quarter worth about $211,000. Allspring Global Investments Holdings LLC lifted its position in Bioventus by 79.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 66,067 shares of the company's stock worth $437,000 after buying an additional 29,238 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in Bioventus during the 2nd quarter worth about $1,924,000. 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.

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