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

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

Wall Street Analysts Forecast Growth

SIBN has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of SI-BONE in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on shares of 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE presently has an average rating of “Buy” and an average target price of $23.00.

SI-BONE Trading Up 3.1 %

The stock has a market capitalization of $537.67 million, a PE 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. The stock’s 50 day simple moving average is $14.07 and its two-hundred day simple moving average is $14.30.

Insider Transactions at SI-BONE

In related news, insider Anthony J. Recupero sold 2,087 shares of SI-BONE stock in a transaction dated Monday, August 19th. The shares were 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 0.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 7,147 shares of company stock valued at $102,194 in the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

Institutional investors and hedge funds have recently bought and sold shares of the company. Champlain Investment Partners LLC grew its position in SI-BONE by 104.8% during the first quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock valued at $40,158,000 after buying an additional 1,255,610 shares during the period. Harbor Capital Advisors Inc. grew its position in SI-BONE by 440.5% during the second quarter. Harbor Capital Advisors Inc. now owns 192,380 shares of the company’s stock valued at $2,487,000 after buying an additional 156,790 shares during the period. Silvercrest Asset Management Group LLC grew its position in SI-BONE by 13.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,060,937 shares of the company’s stock valued at $17,368,000 after buying an additional 128,702 shares during the period. Vanguard Group Inc. grew its position in SI-BONE by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after buying an additional 43,670 shares during the period. Finally, American Century Companies Inc. grew its position in SI-BONE by 22.8% during the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after buying an additional 368,637 shares during the period. 98.11% of the stock is currently owned by institutional investors.

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.