SI-BONE (NASDAQ:SIBN) Stock Price Up 5.5%

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price shot up 5.5% during mid-day trading on Tuesday . The company traded as high as $15.80 and last traded at $15.28. 138,373 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 427,271 shares. The stock had previously closed at $14.48.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SIBN. Morgan Stanley reduced their price target on SI-BONE from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $27.00 price target on shares of SI-BONE in a research report on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price target on shares of SI-BONE in a research report on Tuesday. Piper Sandler began coverage on SI-BONE in a research report on Thursday, March 28th. They issued an “overweight” rating and a $25.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of SI-BONE in a research report on Tuesday, February 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $27.29.

SI-BONE Stock Up 8.3 %

The company has a market cap of $646.02 million, a P/E ratio of -13.54 and a beta of 1.24. The company has a 50 day moving average of $15.87 and a 200-day moving average of $18.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.02. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. The firm had revenue of $38.86 million during the quarter, compared to analyst estimates of $38.60 million. On average, equities analysts predict that SI-BONE, Inc. will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of SI-BONE stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total transaction of $37,466.25. Following the completion of the sale, the chief financial officer now owns 205,516 shares of the company’s stock, valued at $3,175,222.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Anshul Maheshwari sold 2,425 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total value of $37,466.25. Following the completion of the sale, the chief financial officer now owns 205,516 shares of the company’s stock, valued at approximately $3,175,222.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mika Nishimura sold 2,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total value of $40,550.00. Following the completion of the sale, the director now directly owns 19,350 shares of the company’s stock, valued at approximately $313,857. The disclosure for this sale can be found here. Insiders sold a total of 11,905 shares of company stock valued at $190,273 over the last 90 days. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RiverPark Advisors LLC lifted its stake in shares of SI-BONE by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 3,151 shares of the company’s stock valued at $66,000 after acquiring an additional 580 shares during the last quarter. Amalgamated Bank lifted its stake in shares of SI-BONE by 12.9% in the 4th quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock valued at $123,000 after acquiring an additional 673 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of SI-BONE by 7.7% in the 4th quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock valued at $224,000 after acquiring an additional 762 shares during the last quarter. Swiss National Bank lifted its stake in shares of SI-BONE by 1.1% in the 3rd quarter. Swiss National Bank now owns 76,600 shares of the company’s stock valued at $1,627,000 after acquiring an additional 800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SI-BONE by 14.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock valued at $179,000 after acquiring an additional 1,106 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.