SI-BONE (NASDAQ:SIBN) Trading Up 3.9% – Here’s Why

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price was up 3.9% on Friday . The company traded as high as $13.11 and last traded at $12.93. Approximately 195,026 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 390,482 shares. The stock had previously closed at $12.44.

Wall Street Analysts Forecast Growth

SIBN has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of SI-BONE in a report on Wednesday. Truist Financial lifted their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Morgan Stanley lowered their target price on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE presently has a consensus rating of “Buy” and a consensus target price of $23.00.

SI-BONE Price Performance

The company’s 50 day simple moving average is $14.03 and its two-hundred day simple moving average is $14.29. The company has a quick ratio of 8.12, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

Insider Transactions at SI-BONE

In related news, insider Anthony J. Recupero sold 3,305 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total transaction of $44,881.90. Following the transaction, the insider now directly owns 233,412 shares of the company’s stock, valued at $3,169,734.96. This represents a 1.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 7,147 shares of company stock valued at $102,194 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SI-BONE

Several hedge funds have recently modified their holdings of SIBN. Champlain Investment Partners LLC increased its stake in SI-BONE by 104.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock valued at $40,158,000 after purchasing an additional 1,255,610 shares in the last quarter. Bellevue Group AG raised its stake in SI-BONE by 810.5% in the 1st quarter. Bellevue Group AG now owns 1,139,956 shares of the company’s stock worth $18,661,000 after acquiring an additional 1,014,756 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in SI-BONE by 222.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock worth $8,674,000 after acquiring an additional 428,110 shares during the last quarter. American Century Companies Inc. lifted its position in SI-BONE by 22.8% during the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock worth $25,685,000 after acquiring an additional 368,637 shares during the period. Finally, Paradigm Capital Management Inc. NY grew its stake in SI-BONE by 24.7% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock valued at $17,448,000 after purchasing an additional 267,100 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

About SI-BONE

SI-BONE, Inc, a medical device company, that operate 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; and implantable bone products.