SI-BONE (NASDAQ:SIBN) Stock Price Up 4.5% – Here’s Why

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price rose 4.5% on Tuesday . The stock traded as high as $13.22 and last traded at $13.22. Approximately 46,517 shares were traded during trading, a decline of 88% from the average daily volume of 389,201 shares. The stock had previously closed at $12.65.

Analyst Upgrades and Downgrades

SIBN has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of SI-BONE in a report on Wednesday, November 20th. Morgan Stanley lowered their price target on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Truist Financial lifted their price target on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $23.00.

SI-BONE Price Performance

The firm’s fifty day moving average price is $13.61 and its 200 day moving average price is $14.17. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The stock has a market cap of $556.52 million, a PE ratio of -14.21 and a beta of 1.22.

Insider Transactions at SI-BONE

In related news, insider Anthony J. Recupero sold 3,305 shares of the business’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $12.68, for a total transaction 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. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,093 shares of company stock valued at $299,558. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Several large investors have recently bought and sold shares of SIBN. Harbor Capital Advisors Inc. increased its position in SI-BONE by 222.5% in the third quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock worth $8,674,000 after purchasing an additional 428,110 shares during the last quarter. American Century Companies Inc. increased its position in SI-BONE by 22.8% during the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after acquiring an additional 368,637 shares during the last quarter. Champlain Investment Partners LLC increased its position 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 valued at $39,145,000 after acquiring an additional 358,821 shares during the last quarter. Paradigm Capital Management Inc. NY increased its position 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 valued at $17,448,000 after acquiring an additional 267,100 shares during the last quarter. Finally, Impax Asset Management Group plc increased its position in SI-BONE by 41.3% during the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock valued at $10,604,000 after acquiring an additional 221,604 shares during the last quarter. Institutional investors 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.