SI-BONE, Inc. (NASDAQ:SIBN) Sees Large Decline in Short Interest

SI-BONE, Inc. (NASDAQ:SIBN) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,270,000 shares, a drop of 21.6% from the October 31st total of 1,620,000 shares. Based on an average trading volume of 365,000 shares, the short-interest ratio is presently 3.5 days.

Insider Transactions at SI-BONE

In other SI-BONE news, CEO Laura Francis sold 10,048 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $12.58, for a total value of $126,403.84. Following the sale, the chief executive officer now directly owns 482,875 shares in the company, valued at $6,074,567.50. This represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 3,937 shares of SI-BONE stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.60, for a total value of $49,606.20. Following the transaction, the insider now directly owns 228,554 shares of the company’s stock, valued at approximately $2,879,780.40. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,093 shares of company stock valued at $299,558. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

Several institutional investors have recently modified their holdings of SIBN. Vanguard Group Inc. increased its holdings in SI-BONE by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock worth $40,328,000 after purchasing an additional 43,670 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of SI-BONE by 7.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock worth $336,000 after buying an additional 1,372 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in SI-BONE by 440.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 192,380 shares of the company’s stock valued at $2,487,000 after buying an additional 156,790 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in SI-BONE in the 2nd quarter valued at approximately $152,000. Finally, Charter Oak Capital Management LLC acquired a new position in SI-BONE during the 2nd quarter worth approximately $310,000. Institutional investors own 98.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SIBN shares. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of SI-BONE in a research report on Wednesday, November 20th. Truist Financial raised their price target on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley reduced their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $23.00.

SI-BONE Trading Up 2.4 %

NASDAQ:SIBN opened at $13.27 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. SI-BONE has a 1-year low of $11.70 and a 1-year high of $21.70. The business’s 50-day moving average price is $13.56 and its two-hundred day moving average price is $14.16.

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.