Monashee Investment Management LLC Invests $502,000 in Shoulder Innovations, Inc. $SI

Monashee Investment Management LLC bought a new position in shares of Shoulder Innovations, Inc. (NYSE:SI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 40,000 shares of the company’s stock, valued at approximately $502,000.

Other large investors have also made changes to their positions in the company. Rhumbline Advisers purchased a new position in Shoulder Innovations during the third quarter worth approximately $54,000. Board of Trustees of The Leland Stanford Junior University acquired a new stake in shares of Shoulder Innovations in the 3rd quarter worth $170,000. Readystate Asset Management LP purchased a new position in shares of Shoulder Innovations during the 3rd quarter worth $511,000. Vanguard Group Inc. purchased a new position in shares of Shoulder Innovations during the 3rd quarter worth $1,836,000. Finally, Federated Hermes Inc. acquired a new position in shares of Shoulder Innovations during the 3rd quarter valued at about $2,510,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SI shares. Morgan Stanley boosted their target price on shares of Shoulder Innovations from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 price objective on shares of Shoulder Innovations in a report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (e)” rating on shares of Shoulder Innovations in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Shoulder Innovations currently has an average rating of “Moderate Buy” and an average price target of $20.60.

Insider Activity

In other news, CEO Robert Joseph Ball purchased 3,900 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was bought at an average price of $14.89 per share, for a total transaction of $58,071.00. Following the completion of the purchase, the chief executive officer directly owned 118,457 shares of the company’s stock, valued at $1,763,824.73. The trade was a 3.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders bought 9,200 shares of company stock valued at $136,642. Company insiders own 1.71% of the company’s stock.

Shoulder Innovations Trading Up 1.2%

NYSE SI opened at $13.63 on Friday. The firm has a 50 day simple moving average of $14.01 and a 200-day simple moving average of $13.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.80 and a current ratio of 11.09. Shoulder Innovations, Inc. has a one year low of $10.92 and a one year high of $17.94. The firm has a market cap of $280.68 million and a price-to-earnings ratio of -0.12.

About Shoulder Innovations

Shoulder Innovations (NYSE:SI) is a medical device company focused on the design, development and commercialization of shoulder implant systems and related surgical instruments for orthopedic surgery. The company’s product portfolio includes modular shoulder prostheses, humeral and glenoid components, and instrumentation kits designed to facilitate both primary and revision shoulder arthroplasty procedures. Emphasizing a patient-centric approach, Shoulder Innovations works to offer implant solutions that aim to restore mobility and reduce post-operative complications.

In addition to its core implant offerings, Shoulder Innovations provides comprehensive clinical support and training programs for surgeons and operating room teams.