Bioventus (NYSE:BVS) Trading Down 5.9% - Time to Sell?

Bioventus Inc. (NYSE:BVS - Get Free Report) dropped 5.9% on Wednesday . The stock traded as low as $9.97 and last traded at $10.16. Approximately 258,471 shares traded hands during trading, a decline of 38% from the average daily volume of 418,376 shares. The stock had previously closed at $10.80.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised Bioventus from an "underweight" rating to a "neutral" rating and upped their target price for the company from $12.00 to $13.00 in a research note on Tuesday, December 17th.

Bioventus Stock Performance

The stock has a market cap of $779.90 million, a P/E ratio of -15.75 and a beta of 0.86. The business has a 50 day moving average price of $10.08 and a 200 day moving average price of $11.01. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85.

Insider Activity

In related news, SVP Katrina J. Church sold 2,535 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.53, for a total value of $26,693.55. Following the completion of the sale, the senior vice president now owns 47,264 shares in the company, valued at approximately $497,689.92. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Anthony D'adamio sold 4,380 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.19, for a total value of $44,632.20. Following the completion of the sale, the senior vice president now owns 118,178 shares of the company's stock, valued at $1,204,233.82. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,932 shares of company stock valued at $512,511. 32.90% of the stock is currently owned by insiders.

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Institutional Trading of Bioventus

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted 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 period. Virtus Fund Advisers LLC purchased a new stake in Bioventus during the third quarter worth $42,000. Plato Investment Management Ltd purchased a new stake in Bioventus during the fourth quarter worth $38,000. Quest Partners LLC purchased a new stake in Bioventus during the third quarter worth $51,000. Finally, Quarry LP purchased a new stake in Bioventus during the third quarter worth $59,000. Hedge funds and other institutional investors own 62.94% of the company's stock.

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.