SI-BONE (NASDAQ:SIBN) Shares Gap Up to $15.82

SI-BONE, Inc. (NASDAQ:SIBN) shares gapped up prior to trading on Thursday . The stock had previously closed at $15.82, but opened at $16.71. SI-BONE shares last traded at $16.33, with a volume of 49,669 shares trading hands.

Wall Street Analyst Weigh In

SIBN has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of SI-BONE in a research report on Monday, December 4th. Morgan Stanley boosted their target price on SI-BONE from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Piper Sandler initiated coverage on SI-BONE in a research report on Thursday. They set an “overweight” rating and a $25.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a research report on Tuesday, February 27th. Finally, Truist Financial restated a “buy” rating and set a $24.00 target price (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $26.33.

SI-BONE Trading Up 4.3 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15. The stock has a market capitalization of $677.49 million, a price-to-earnings ratio of -14.62 and a beta of 1.20. The business has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $19.05.

SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.02. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. The company had revenue of $38.86 million during the quarter, compared to analysts’ expectations of $38.60 million. As a group, equities analysts expect that SI-BONE, Inc. will post -0.97 earnings per share for the current year.

Insider Buying and Selling at SI-BONE

In other news, Director Timothy E. Davis, Jr. sold 9,900 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $20.93, for a total transaction of $207,207.00. Following the transaction, the director now owns 22,361 shares in the company, valued at $468,015.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Anshul Maheshwari sold 1,470 shares of SI-BONE stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $20.92, for a total value of $30,752.40. Following the completion of the transaction, the chief financial officer now directly owns 147,268 shares of the company’s stock, valued at approximately $3,080,846.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy E. Davis, Jr. sold 9,900 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $20.93, for a total value of $207,207.00. Following the completion of the sale, the director now owns 22,361 shares of the company’s stock, valued at $468,015.73. The disclosure for this sale can be found here. Insiders have sold 19,136 shares of company stock worth $375,040 over the last 90 days. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

A number of institutional investors have recently added to or reduced their stakes in SIBN. Brown Advisory Inc. increased its position in shares of SI-BONE by 5.4% during the 4th quarter. Brown Advisory Inc. now owns 4,207,703 shares of the company’s stock valued at $88,320,000 after purchasing an additional 214,089 shares during the last quarter. BlackRock Inc. lifted its holdings in SI-BONE by 10.6% in the 2nd quarter. BlackRock Inc. now owns 3,041,535 shares of the company’s stock worth $82,061,000 after buying an additional 291,111 shares during the period. First Light Asset Management LLC lifted its holdings in SI-BONE by 0.9% in the 4th quarter. First Light Asset Management LLC now owns 2,547,392 shares of the company’s stock worth $53,470,000 after buying an additional 23,299 shares during the period. Vanguard Group Inc. raised its position in shares of SI-BONE by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 2,419,831 shares of the company’s stock worth $50,792,000 after acquiring an additional 111,315 shares in the last quarter. Finally, Granahan Investment Management LLC raised its position in shares of SI-BONE by 13.2% in the 4th quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company’s stock worth $27,003,000 after acquiring an additional 150,217 shares in the last quarter. 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.