Truist Financial Forecasts Strong Price Appreciation for SI-BONE (NASDAQ:SIBN) Stock

SI-BONE (NASDAQ:SIBN) had its target price upped by Truist Financial from $16.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 44.69% from the stock’s current price.

Several other equities research analysts have also commented on SIBN. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of SI-BONE in a research note on Wednesday. Morgan Stanley decreased their price objective on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE currently has an average rating of “Buy” and an average price target of $23.00.

SI-BONE Stock Down 5.3 %

NASDAQ SIBN opened at $12.44 on Wednesday. The company has a current ratio of 8.25, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $14.07 and its 200 day moving average price is $14.30. SI-BONE has a twelve month low of $11.76 and a twelve month high of $21.70.

Insider Transactions at SI-BONE

In other news, insider Anthony J. Recupero sold 2,087 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the sale, the insider now owns 236,717 shares of the company’s stock, valued at approximately $3,354,279.89. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 7,147 shares of company stock valued at $102,194. 3.90% of the stock is currently owned by insiders.

Institutional Trading of SI-BONE

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its stake in SI-BONE by 103.6% during the third quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after purchasing an additional 1,198 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of SI-BONE during the second quarter valued at about $61,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SI-BONE by 24.7% in the 2nd 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 during the period. Arizona State Retirement System increased its stake in shares of SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after acquiring an additional 903 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of SI-BONE in the third quarter valued at $144,000. 98.11% of the stock is owned by institutional investors.

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.