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

SI-BONE, Inc. (NASDAQ:SIBN)’s share price was up 3.9% on Tuesday . The company traded as high as $14.40 and last traded at $14.24. 58,323 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 378,714 shares. The stock had previously closed at $13.71.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research report on Wednesday, November 20th. Truist Financial boosted their price objective on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $23.00.

SI-BONE Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. The business has a fifty day moving average of $13.47 and a 200-day moving average of $14.10. The stock has a market cap of $589.65 million, a PE ratio of -15.28 and a beta of 1.20.

Insiders Place Their Bets

In other SI-BONE news, CEO Laura Francis sold 10,048 shares of SI-BONE stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.58, for a total value of $126,403.84. Following the transaction, the chief executive officer now owns 482,875 shares in the company, valued at $6,074,567.50. The trade was a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony J. Recupero sold 3,305 shares of SI-BONE stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total transaction of $44,881.90. Following the completion of the transaction, the insider now directly owns 233,412 shares in the company, valued at approximately $3,169,734.96. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,679 shares of company stock worth $276,439 in the last three months. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Champlain Investment Partners LLC grew its holdings in SI-BONE by 14.7% during the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after acquiring an additional 358,821 shares during the period. American Century Companies Inc. grew its stake in shares of 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 purchasing an additional 368,637 shares during the period. Bellevue Group AG increased its holdings in shares of SI-BONE by 4.1% during the 3rd quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock valued at $20,189,000 after purchasing an additional 56,500 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its holdings in SI-BONE by 24.7% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock worth $17,448,000 after buying an additional 267,100 shares in the last quarter. Finally, State Street Corp grew its position in SI-BONE by 5.1% during the third quarter. State Street Corp now owns 1,081,871 shares of the company’s stock valued at $15,125,000 after buying an additional 52,972 shares during the period. Institutional investors and hedge funds own 98.11% of the company’s stock.

SI-BONE Company Profile

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.