Bioventus (NYSE:BVS) Shares Gap Up – What’s Next?

Bioventus Inc. (NYSE:BVS) shares gapped up before the market opened on Tuesday . The stock had previously closed at $8.76, but opened at $10.94. Bioventus shares last traded at $11.12, with a volume of 250,926 shares.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upgraded shares of Bioventus from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $13.00 in a research report on Tuesday, December 17th.

Bioventus Stock Down 6.8 %

The firm’s 50-day moving average price is $10.12 and its 200 day moving average price is $11.01. The firm has a market capitalization of $817.23 million, a price-to-earnings ratio of -16.51 and a beta of 0.86. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.41 and a quick ratio of 0.99.

Insider Activity at Bioventus

In related news, SVP Anthony D’adamio sold 4,380 shares of the company’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 transaction of $44,632.20. Following the transaction, the senior vice president now owns 118,178 shares of the company’s stock, valued at approximately $1,204,233.82. This represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert E. Claypoole sold 28,786 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $261,952.60. Following the transaction, the chief executive officer now directly owns 64,964 shares in the company, valued at $591,172.40. The trade was a 30.71 % 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. Company insiders own 32.90% of the company’s stock.

Hedge Funds Weigh In On Bioventus

Several institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new position in shares of Bioventus during the fourth quarter valued at approximately $339,000. Toronto Dominion Bank purchased a new position in Bioventus during the fourth quarter worth approximately $175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Bioventus during the fourth quarter worth approximately $684,000. Sherbrooke Park Advisers LLC purchased a new position in Bioventus during the fourth quarter worth approximately $111,000. Finally, ProShare Advisors LLC purchased a new position in Bioventus during the fourth quarter worth approximately $113,000. Hedge funds and other institutional investors own 62.94% of the company’s stock.

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.