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

Bioventus Inc. (NYSE:BVS)’s stock price 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 traded.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised shares of Bioventus from an “underweight” rating to a “neutral” rating and raised 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’s 50 day moving average price is $10.12 and its 200 day moving average price is $11.01. The firm has a market cap of $817.23 million, a PE ratio of -16.51 and a beta of 0.86. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 1.85.

Insider Activity at Bioventus

In other Bioventus news, SVP Katrina J. Church sold 2,535 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.53, for a total transaction of $26,693.55. Following the completion of the transaction, the senior vice president now directly owns 47,264 shares of the company’s stock, valued at $497,689.92. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert E. Claypoole sold 28,786 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was 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 of the company’s stock, valued at approximately $591,172.40. This represents a 30.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,932 shares of company stock valued at $512,511. Corporate insiders own 32.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in Bioventus by 106.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,469 shares of the company’s stock worth $36,000 after acquiring an additional 1,786 shares in the last quarter. Virtus Fund Advisers LLC acquired a new position in shares of Bioventus in the 3rd quarter valued at about $42,000. Plato Investment Management Ltd acquired a new position in shares of Bioventus in the 4th quarter valued at about $38,000. Quest Partners LLC acquired a new position in shares of Bioventus in the 3rd quarter valued at about $51,000. Finally, Quarry LP acquired a new position in shares of Bioventus in the 3rd quarter valued at about $59,000. 62.94% of the stock is owned by institutional investors and hedge funds.

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.