SI-BONE (NASDAQ:SIBN) Stock Price Expected to Rise, Truist Financial Analyst Says

SI-BONE (NASDAQ:SIBN) had its price objective raised by equities researchers at Truist Financial from $16.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 34.13% from the company’s previous close.

A number of other brokerages have also recently issued reports on SIBN. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of SI-BONE in a research note on Wednesday. Morgan Stanley decreased 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $23.00.

SI-BONE Price Performance

Shares of NASDAQ SIBN traded down $2.21 during mid-day trading on Wednesday, reaching $13.42. The company had a trading volume of 405,845 shares, compared to its average volume of 387,327. The business’s 50-day simple moving average is $14.20 and its 200 day simple moving average is $14.32. The firm has a market cap of $559.48 million, a price-to-earnings ratio of -14.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 9.17. SI-BONE has a one year low of $11.76 and a one year high of $21.70.

Insider Activity

In related news, insider Anthony J. Recupero sold 2,087 shares of SI-BONE stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.17, for a total transaction of $29,572.79. Following the sale, the insider now directly owns 236,717 shares in the company, valued at $3,354,279.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Anthony J. Recupero sold 2,087 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.17, for a total transaction of $29,572.79. Following the completion of the transaction, the insider now directly owns 236,717 shares of the company’s stock, valued at $3,354,279.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 2,418 shares of SI-BONE stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.87, for a total value of $33,537.66. Following the transaction, the chief financial officer now directly owns 198,762 shares in the company, valued at $2,756,828.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,017 shares of company stock valued at $349,587 over the last quarter. 3.90% of the stock is owned by company insiders.

Institutional Trading of SI-BONE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of SI-BONE by 103.6% in the 3rd 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. Millrace Asset Group Inc. acquired a new position in SI-BONE in the third quarter valued at $1,056,000. Champlain Investment Partners LLC boosted its position in shares of SI-BONE by 14.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock valued at $39,145,000 after purchasing an additional 358,821 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of SI-BONE by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company’s stock worth $4,405,000 after buying an additional 5,966 shares during the period. Finally, Impax Asset Management Group plc grew its holdings in SI-BONE by 41.3% in the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock worth $10,604,000 after purchasing an additional 221,604 shares during the period. Institutional investors and hedge funds 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.