SI-BONE (NASDAQ:SIBN) Trading 4.5% Higher – Should You Buy?

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price traded 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.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Morgan Stanley lowered their price target 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. Truist Financial increased their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of SI-BONE in a research note on Wednesday, November 20th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $23.00.

SI-BONE Stock Performance

The company has a market capitalization of $533.90 million, a PE ratio of -13.75 and a beta of 1.22. 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 stock’s fifty day simple moving average is $13.67 and its 200-day simple moving average is $14.18.

Insider Buying and Selling at SI-BONE

In other news, CEO Laura Francis sold 10,048 shares of the 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 transaction, the chief executive officer now directly owns 482,875 shares in the company, valued at $6,074,567.50. This represents a 2.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony J. Recupero sold 3,305 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total transaction of $44,881.90. Following the transaction, the insider now owns 233,412 shares in the company, valued at approximately $3,169,734.96. The trade was a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,093 shares of company stock worth $299,558. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Champlain Investment Partners LLC lifted its holdings in shares of SI-BONE by 14.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after acquiring an additional 358,821 shares during the period. Vanguard Group Inc. lifted 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 in the last quarter. American Century Companies Inc. lifted 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 in the last quarter. Bellevue Group AG lifted its position in SI-BONE by 4.1% during the third quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock valued at $20,189,000 after buying an additional 56,500 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its position in SI-BONE by 24.7% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock valued at $17,448,000 after buying an additional 267,100 shares in the last quarter. 98.11% of the stock is currently owned by hedge funds and other 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.