Trexquant Investment LP Trims Stock Position in Bioventus Inc. (NYSE:BVS)

Trexquant Investment LP cut its stake in Bioventus Inc. (NYSE:BVS - Free Report) by 56.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,471 shares of the company's stock after selling 58,493 shares during the period. Trexquant Investment LP owned about 0.05% of Bioventus worth $467,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new stake in shares of Bioventus in the 4th quarter valued at about $38,000. KLP Kapitalforvaltning AS purchased a new stake in Bioventus in the fourth quarter valued at approximately $75,000. Quantbot Technologies LP acquired a new stake in shares of Bioventus in the fourth quarter valued at approximately $103,000. Arizona State Retirement System purchased a new position in shares of Bioventus during the fourth quarter worth approximately $109,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Bioventus in the 3rd quarter valued at $144,000. Hedge funds and other institutional investors own 62.94% of the company's stock.

Bioventus Stock Performance

Shares of NYSE BVS traded down $0.18 during mid-day trading on Tuesday, hitting $7.74. 429,619 shares of the company were exchanged, compared to its average volume of 442,486. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 1.85. The firm has a market cap of $634.25 million, a price-to-earnings ratio of -12.69 and a beta of 0.92. The stock has a 50 day simple moving average of $9.46 and a 200-day simple moving average of $10.68. Bioventus Inc. has a 1-year low of $3.90 and a 1-year high of $14.38.

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Insider Transactions at Bioventus

In other news, CFO Mark Leonard Singleton sold 3,875 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $7.57, for a total transaction of $29,333.75. Following the completion of the transaction, the chief financial officer now directly owns 141,088 shares of the company's stock, valued at approximately $1,068,036.16. This represents a 2.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Anthony D'adamio sold 4,380 shares of Bioventus 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 in the company, valued at approximately $1,204,233.82. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,208 shares of company stock worth $226,138. Company insiders own 32.90% of the company's stock.

Wall Street Analyst Weigh In

BVS has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Bioventus from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $12.00 to $13.00 in a research note on Tuesday, December 17th. Canaccord Genuity Group reiterated a "buy" rating and set a $15.00 target price on shares of Bioventus in a research note on Monday, March 17th.

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.