Millrace Asset Group Inc. Buys Shares of 75,542 SI-BONE, Inc. (NASDAQ:SIBN)

Millrace Asset Group Inc. purchased a new position in shares of SI-BONE, Inc. (NASDAQ:SIBN) in the 3rd quarter, Holdings Channel reports. The firm purchased 75,542 shares of the company’s stock, valued at approximately $1,056,000.

Other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in SI-BONE during the 2nd quarter worth about $61,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of SI-BONE by 24.7% during the second 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 in the last quarter. Arizona State Retirement System lifted its stake 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 worth $141,000 after purchasing an additional 903 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of SI-BONE during the 2nd quarter worth about $151,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of SI-BONE during the 2nd quarter valued at $152,000. 98.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SI-BONE

In other news, CEO Laura Francis sold 10,048 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.58, for a total transaction of $126,403.84. Following the completion of the sale, the chief executive officer now directly owns 482,875 shares in the company, valued at $6,074,567.50. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 3,937 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.60, for a total value of $49,606.20. Following the completion of the transaction, the insider now owns 228,554 shares in the company, valued at approximately $2,879,780.40. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,093 shares of company stock valued at $299,558. Corporate insiders own 3.90% of the company’s stock.

SI-BONE Trading Up 0.7 %

SIBN opened at $12.65 on Tuesday. The firm’s 50 day moving average is $13.67 and its 200-day moving average is $14.18. SI-BONE, Inc. has a 52-week low of $11.70 and a 52-week high of $21.70. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $530.54 million, a P/E ratio of -13.75 and a beta of 1.22.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SIBN shares. Truist Financial boosted their target price on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of SI-BONE in a research note on Wednesday, November 20th. Finally, Morgan Stanley cut their target price on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $23.00.

SI-BONE 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.