Bioventus (NYSE:BVS) Shares Down 3.9% – Here’s Why

Bioventus Inc. (NYSE:BVS) shares traded down 3.9% during 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 Trading Down 3.3%

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 business has a 50 day moving average price of $6.98 and a 200-day moving average price of $6.88. The firm has a market cap of $623.21 million, a price-to-earnings ratio of -12.36 and a beta of 0.80.

Insider Transactions at Bioventus

In other Bioventus news, Director Michelle Mcmurry-Heath sold 17,701 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $7.42, for a total value of $131,341.42. Following the transaction, the director owned 56,997 shares in the company, valued at $422,917.74. The trade was a 23.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 33.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bioventus

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

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.