SI-BONE (NASDAQ:SIBN) Shares Gap Down – Time to Sell?

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $15.63, but opened at $13.58. SI-BONE shares last traded at $13.77, with a volume of 100,008 shares traded.

Analysts Set New Price Targets

SIBN has been the subject of several recent research reports. Truist Financial lifted their price target on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research report on Wednesday. Finally, Morgan Stanley lowered their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $23.00.

SI-BONE Trading Down 14.1 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 9.17. The stock has a fifty day moving average of $14.20 and a 200-day moving average of $14.32. The company has a market cap of $559.90 million, a PE ratio of -14.72 and a beta of 1.22.

Insider Activity

In other SI-BONE news, insider Anthony J. Recupero sold 3,905 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $54,045.20. Following the transaction, the insider now directly owns 238,804 shares in the company, valued at $3,305,047.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other SI-BONE news, insider Anthony J. Recupero sold 3,905 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.84, for a total transaction of $54,045.20. Following the transaction, the insider now directly owns 238,804 shares in the company, valued at $3,305,047.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laura Francis sold 9,967 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the completion of the transaction, the chief executive officer now directly owns 492,923 shares of the company’s stock, valued at $6,822,054.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,017 shares of company stock valued at $349,587. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SI-BONE

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of 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 last quarter. Canada Pension Plan Investment Board acquired a new position in shares of SI-BONE during the second quarter worth $61,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of SI-BONE by 24.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock valued at $138,000 after purchasing an additional 2,108 shares during the last quarter. Arizona State Retirement System boosted its position in shares of 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 purchasing an additional 903 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in SI-BONE during the 2nd quarter worth $151,000. 98.11% of the stock is currently owned by institutional investors.

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.