SI-BONE (NASDAQ:SIBN) Stock Price Up 4.5% – Time to Buy?

Shares of SI-BONE, Inc. (NASDAQ:SIBN) shot up 4.5% on Tuesday . The company traded as high as $13.22 and last traded at $13.22. 46,517 shares were traded during trading, a decline of 88% from the average session volume of 389,201 shares. The stock had previously closed at $12.65.

Analysts Set New Price Targets

A number of research firms have weighed in on SIBN. Truist Financial boosted 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, November 13th. Morgan Stanley cut 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of SI-BONE in a report on Wednesday, November 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $23.00.

SI-BONE Trading Up 2.4 %

The stock’s fifty day moving average price is $13.61 and its 200 day moving average price is $14.17. The stock has a market capitalization of $556.52 million, a P/E ratio of -14.21 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 7.22.

Insider Buying and Selling

In related news, 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 value of $126,403.84. Following the completion of the sale, the chief executive officer now directly owns 482,875 shares of the company’s stock, valued at $6,074,567.50. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,937 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was 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 directly owns 228,554 shares of the company’s stock, valued at approximately $2,879,780.40. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,093 shares of company stock valued at $299,558 over the last three months. 3.90% of the stock is owned by company insiders.

Institutional Trading of SI-BONE

A number of hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in SI-BONE by 1.5% in the second quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock worth $768,000 after acquiring an additional 852 shares during the period. Arizona State Retirement System grew 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 buying an additional 903 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of SI-BONE by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,880 shares of the company’s stock worth $205,000 after acquiring an additional 1,105 shares in the last quarter. FMR LLC lifted its position in SI-BONE by 103.6% during the third quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in SI-BONE by 7.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock valued at $336,000 after acquiring an additional 1,372 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other 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.