SI-BONE, Inc. (NASDAQ:SIBN) Short Interest Up 19.0% in February

SI-BONE, Inc. (NASDAQ:SIBNGet Free Report) was the recipient of a large increase in short interest in the month of February. As of February 29th, there was short interest totalling 2,320,000 shares, an increase of 19.0% from the February 14th total of 1,950,000 shares. Based on an average daily volume of 458,500 shares, the short-interest ratio is presently 5.1 days.

Wall Street Analysts Forecast Growth

SIBN has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of SI-BONE in a research note on Monday, December 4th. Truist Financial reissued a “buy” rating and issued a $24.00 price target (down from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price target on shares of SI-BONE in a report on Tuesday, February 27th. Finally, Morgan Stanley increased their price target on shares of SI-BONE from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th.

Get Our Latest Stock Analysis on SIBN

Insider Buying and Selling

In related news, Director Mika Nishimura sold 2,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total value of $40,550.00. Following the completion of the transaction, the director now directly owns 19,350 shares of the company’s stock, valued at approximately $313,857. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Anthony J. Recupero sold 1,936 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $20.93, for a total transaction of $40,520.48. Following the completion of the transaction, the insider now directly owns 198,903 shares in the company, valued at approximately $4,163,039.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mika Nishimura sold 2,500 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total transaction of $40,550.00. Following the transaction, the director now owns 19,350 shares of the company’s stock, valued at $313,857. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,136 shares of company stock valued at $375,040. Company insiders own 5.40% of the company’s stock.

Institutional Trading of SI-BONE

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in SI-BONE by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 2,419,831 shares of the company’s stock valued at $50,792,000 after buying an additional 111,315 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of SI-BONE by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 817,048 shares of the company’s stock worth $17,150,000 after purchasing an additional 211,209 shares during the period. American International Group Inc. lifted its holdings in shares of SI-BONE by 13.9% during the fourth quarter. American International Group Inc. now owns 19,773 shares of the company’s stock worth $415,000 after purchasing an additional 2,418 shares during the period. Quarry LP acquired a new position in shares of SI-BONE during the fourth quarter worth $28,000. Finally, Bullseye Asset Management LLC raised its stake in SI-BONE by 218.6% during the fourth quarter. Bullseye Asset Management LLC now owns 102,024 shares of the company’s stock worth $2,141,000 after buying an additional 70,000 shares during the last quarter.

SI-BONE Stock Down 0.7 %

Shares of SIBN opened at $16.04 on Friday. The company has a current ratio of 9.01, a quick ratio of 8.15 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $658.68 million, a PE ratio of -14.07 and a beta of 1.20. The firm’s 50 day moving average is $19.28 and its 200-day moving average is $19.40. SI-BONE has a 12 month low of $15.57 and a 12 month high of $29.51.

About SI-BONE

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SI-BONE, Inc, a medical device company, develops implantable devices used to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma.

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