SI-BONE (NASDAQ:SIBN) Shares Up 8.1% – Here’s What Happened

SI-BONE, Inc. (NASDAQ:SIBN)’s share price shot up 8.1% during mid-day trading on Monday . The company traded as high as $14.99 and last traded at $14.83. 32,225 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 246,155 shares. The stock had previously closed at $13.72.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SIBN. Truist Financial upped their price target on shares of SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of SI-BONE in a research note on Monday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, SI-BONE presently has a consensus rating of “Buy” and an average target price of $23.00.

SI-BONE Trading Up 18.4 %

The stock has a 50-day simple moving average of $13.68 and a two-hundred day simple moving average of $14.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The firm has a market cap of $681.07 million, a PE ratio of -17.65 and a beta of 1.16.

Insiders Place Their Bets

In other news, insider Anthony J. Recupero sold 3,937 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.60, for a total transaction of $49,606.20. Following the completion of the sale, the insider now owns 228,554 shares of the company’s stock, valued at $2,879,780.40. This represents a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laura Francis sold 10,048 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.58, for a total transaction of $126,403.84. Following the sale, the chief executive officer now directly owns 482,875 shares of the company’s stock, valued at $6,074,567.50. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,348 shares of company stock valued at $356,349. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On SI-BONE

Several hedge funds and other institutional investors have recently made changes to their positions in SIBN. FMR LLC increased its position in shares of SI-BONE by 103.6% during 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. Canada Pension Plan Investment Board purchased a new stake in shares of SI-BONE during the 2nd quarter valued at about $61,000. Arizona State Retirement System increased its position in shares of SI-BONE by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after purchasing an additional 903 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of SI-BONE during the 3rd quarter valued at about $144,000. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of SI-BONE during the 2nd quarter valued at about $151,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

About SI-BONE

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.