Bioventus Inc. $BVS Position Boosted by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has significantly increased its holdings in Bioventus Inc. by 314.0% during the 1st quarter, acquiring a total of 153,489 shares worth approximately $1.4 million.
• Several hedge funds have also boosted their stakes in Bioventus, with Russell Investments Group Ltd. increasing its position by an astonishing 23,761.5% in the same quarter.
• Cantor Fitzgerald has initiated coverage on Bioventus with an "overweight" rating and a target price of $12.00, reflecting a positive outlook amongst analysts.

Cubist Systematic Strategies LLC grew its holdings in shares of Bioventus Inc. (NYSE:BVS - Free Report) by 314.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 153,489 shares of the company's stock after purchasing an additional 116,418 shares during the period. Cubist Systematic Strategies LLC owned 0.19% of Bioventus worth $1,404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in shares of 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 purchasing an additional 1,786 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Bioventus by 17.0% during the fourth quarter. EP Wealth Advisors LLC now owns 14,096 shares of the company's stock worth $148,000 after purchasing an additional 2,047 shares during the period. EntryPoint Capital LLC increased its holdings in shares of Bioventus by 7.8% in the 1st quarter. EntryPoint Capital LLC now owns 28,371 shares of the company's stock worth $260,000 after acquiring an additional 2,048 shares during the period. Summit Global Investments increased its holdings in shares of Bioventus by 3.9% in the 1st quarter. Summit Global Investments now owns 54,752 shares of the company's stock worth $501,000 after acquiring an additional 2,077 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Bioventus by 26.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,194 shares of the company's stock worth $160,000 after acquiring an additional 3,153 shares during the period. 62.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bioventus Price Performance

BVS traded down $0.13 on Friday, reaching $7.15. The company had a trading volume of 56,747 shares, compared to its average volume of 395,092. The company has a fifty day moving average of $6.96 and a 200-day moving average of $7.50. The company has a market capitalization of $591.15 million, a P/E ratio of -11.74 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. Bioventus Inc. has a one year low of $5.81 and a one year high of $14.38.

Bioventus 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.