Bioventus (NYSE:BVS) Trading Down 3.9% – Here’s What Happened

by · The Markets Daily

Bioventus Inc. (NYSE:BVS – Get Free Report) shares traded down 3.9% during mid-day trading on Wednesday . The company traded as low as $7.30 and last traded at $7.49. 123,099 shares traded hands during trading, a decline of 67% from the average session volume of 376,950 shares. The stock had previously closed at $7.79.

Bioventus Stock Down 3.3%

The firm’s fifty day simple moving average is $6.98 and its 200-day simple moving average is $6.88. The company has a market cap of $623.21 million, a PE ratio of -12.36 and a beta of 0.80. 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 at Bioventus

In related news, Director Michelle Mcmurry-Heath sold 17,701 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $7.42, for a total transaction of $131,341.42. Following the sale, the director owned 56,997 shares of the company’s stock, valued at $422,917.74. This trade represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 33.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bioventus

Several hedge funds have recently modified their holdings of BVS. Russell Investments Group Ltd. grew its stake in Bioventus by 23,761.5% in the 1st quarter. Russell Investments Group Ltd. now owns 6,204 shares of the company’s stock worth $57,000 after acquiring an additional 6,178 shares during the period. PharVision Advisers LLC purchased a new stake in shares of Bioventus in the second quarter valued at $67,000. Covestor Ltd increased its stake in Bioventus by 28.0% in the third quarter. Covestor Ltd now owns 9,951 shares of the company’s stock valued at $67,000 after purchasing an additional 2,176 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Bioventus in the second quarter worth approximately $72,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Bioventus during the 3rd quarter valued at $72,000. 62.94% of the stock is owned by institutional investors and hedge funds.

About Bioventus

(Get Free Report)

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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