Harbor Capital Advisors Inc. Boosts Stake in SI-BONE, Inc. (NASDAQ:SIBN)

Harbor Capital Advisors Inc. raised its position in SI-BONE, Inc. (NASDAQ:SIBN) by 440.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,380 shares of the company’s stock after purchasing an additional 156,790 shares during the quarter. Harbor Capital Advisors Inc. owned 0.47% of SI-BONE worth $2,487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Granahan Investment Management LLC grew its stake in SI-BONE by 13.2% in the 4th quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company’s stock worth $27,003,000 after acquiring an additional 150,217 shares in the last quarter. Bullseye Asset Management LLC boosted its stake in shares of SI-BONE by 218.6% during the fourth quarter. Bullseye Asset Management LLC now owns 102,024 shares of the company’s stock valued at $2,141,000 after purchasing an additional 70,000 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 valued at $17,150,000 after purchasing an additional 211,209 shares in the last quarter. Bellevue Group AG bought a new position in shares of SI-BONE during the fourth quarter valued at approximately $2,628,000. Finally, Champlain Investment Partners LLC boosted its stake in shares of SI-BONE by 104.8% during the first 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. 98.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $32.00 price objective on shares of SI-BONE in a research note on Tuesday, May 7th. Truist Financial dropped their price objective on shares of SI-BONE from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley dropped their price objective on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC dropped their price objective on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $23.00.

Insider Activity at SI-BONE

In other news, CFO Anshul Maheshwari sold 2,441 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.14, for a total transaction of $36,956.74. Following the completion of the transaction, the chief financial officer now directly owns 204,241 shares of the company’s stock, valued at approximately $3,092,208.74. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Anthony J. Recupero sold 3,309 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.92, for a total transaction of $42,752.28. Following the completion of the sale, the insider now owns 243,629 shares of the company’s stock, valued at $3,147,686.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 2,441 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.14, for a total transaction of $36,956.74. Following the completion of the transaction, the chief financial officer now directly owns 204,241 shares in the company, valued at $3,092,208.74. The disclosure for this sale can be found here. Insiders sold a total of 11,956 shares of company stock worth $172,480 in the last 90 days. Corporate insiders own 5.40% of the company’s stock.

SI-BONE Stock Performance

Shares of SIBN stock traded down $0.13 on Wednesday, hitting $14.09. The company had a trading volume of 173,698 shares, compared to its average volume of 405,246. The firm has a market cap of $580.65 million, a P/E ratio of -13.05 and a beta of 1.20. SI-BONE, Inc. has a twelve month low of $11.76 and a twelve month high of $23.81. The company has a 50-day moving average price of $14.05 and a 200-day moving average price of $15.92. The company has a quick ratio of 8.75, a current ratio of 9.76 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.04. The business had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.95 million. SI-BONE had a negative return on equity of 25.14% and a negative net margin of 29.93%. During the same quarter in the prior year, the firm posted ($0.30) EPS. As a group, equities research analysts predict that SI-BONE, Inc. will post -0.95 earnings per share for the current fiscal year.

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.