PDT Partners LLC Makes New Investment in SI-BONE, Inc. (NASDAQ:SIBN)

PDT Partners LLC bought a new position in SI-BONE, Inc. (NASDAQ:SIBN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 34,277 shares of the company’s stock, valued at approximately $479,000.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after purchasing an additional 1,198 shares during the period. Canada Pension Plan Investment Board bought a new stake in SI-BONE in the second quarter worth about $61,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in SI-BONE by 24.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after acquiring an additional 2,108 shares in the last quarter. Arizona State Retirement System raised its holdings in SI-BONE by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after buying an additional 903 shares during the period. Finally, Walleye Capital LLC acquired a new stake in SI-BONE during the 3rd quarter worth about $144,000. 98.11% of the stock is owned by institutional investors and hedge funds.

SI-BONE Price Performance

Shares of SIBN stock opened at $13.02 on Wednesday. SI-BONE, Inc. has a 12 month low of $11.70 and a 12 month high of $21.70. The stock has a 50-day moving average price of $13.45 and a 200 day moving average price of $14.12. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22.

Insider Transactions at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total value of $44,881.90. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 194,623 shares in the company, valued at $2,467,819.64. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,679 shares of company stock worth $276,439. 3.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Truist Financial lifted their target price on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley lowered their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research report on Wednesday, November 20th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $23.00.

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.