Short Interest in SI-BONE, Inc. (NASDAQ:SIBN) Drops By 21.6%

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

SI-BONE Stock Up 2.2 %

Shares of SIBN stock traded up $0.29 on Friday, reaching $13.56. 147,807 shares of the company’s stock traded hands, compared to its average volume of 388,661. The company has a market capitalization of $568.71 million, a P/E ratio of -14.74 and a beta of 1.22. SI-BONE has a 12-month low of $11.70 and a 12-month high of $21.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The business’s 50 day moving average price is $13.48 and its two-hundred day moving average price is $14.14.

Wall Street Analyst Weigh In

SIBN has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Truist Financial boosted their price objective on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of SI-BONE in a report on Wednesday, November 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE currently has a consensus rating of “Buy” and an average price target of $23.00.

Insider Activity

In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of SI-BONE stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total value of $44,881.90. Following the transaction, the insider now owns 233,412 shares in the company, valued at approximately $3,169,734.96. The trade was a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Anshul Maheshwari sold 2,439 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.68, for a total value of $30,926.52. Following the completion of the transaction, the chief financial officer now directly owns 194,623 shares in the company, valued at $2,467,819.64. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,093 shares of company stock worth $299,558 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SI-BONE

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of SI-BONE by 1.8% during the first 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 during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of SI-BONE by 7.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock valued at $336,000 after acquiring an additional 1,372 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of SI-BONE by 440.5% in the second quarter. Harbor Capital Advisors Inc. now owns 192,380 shares of the company’s stock worth $2,487,000 after acquiring an additional 156,790 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of SI-BONE during the second quarter worth $152,000. Finally, Charter Oak Capital Management LLC acquired a new stake in SI-BONE during the second quarter valued at $310,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.