SI-BONE (NASDAQ:SIBN) Trading 3.9% Higher – Here’s What Happened

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price shot up 3.9% on Friday . The stock traded as high as $13.11 and last traded at $12.93. 195,026 shares changed hands during trading, a decline of 50% from the average session volume of 390,482 shares. The stock had previously closed at $12.44.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SIBN. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of SI-BONE in a report on Wednesday. Finally, Truist Financial boosted their target price on shares of SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $23.00.

SI-BONE Price Performance

The firm’s 50-day moving average is $14.07 and its two-hundred day moving average is $14.30. The company has a market cap of $537.67 million, a P/E ratio of -13.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 8.12.

Insider Buying and Selling at SI-BONE

In other SI-BONE 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 transaction of $44,881.90. Following the transaction, the insider now owns 233,412 shares in the company, valued at $3,169,734.96. The trade was a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 7,147 shares of company stock worth $102,194 over the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after buying an additional 1,198 shares during the period. Canada Pension Plan Investment Board purchased a new position in SI-BONE in the 2nd quarter worth about $61,000. Walleye Capital LLC purchased a new position in SI-BONE in the 3rd quarter worth about $144,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 buying an additional 2,108 shares during the period. Finally, Arizona State Retirement System increased its stake in SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after buying an additional 903 shares during the period. Hedge funds and other 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.