VELA Investment Management LLC Has $1.39 Million Stock Position in SI-BONE, Inc. (NASDAQ:SIBN)

VELA Investment Management LLC reduced its stake in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 11.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,079 shares of the company’s stock after selling 13,009 shares during the quarter. VELA Investment Management LLC owned 0.24% of SI-BONE worth $1,385,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Essex Investment Management Co. LLC acquired a new stake in shares of SI-BONE during the 3rd quarter worth $2,342,000. Diversified Trust Co grew its holdings in shares of SI-BONE by 27.6% during the 3rd quarter. Diversified Trust Co now owns 27,160 shares of the company’s stock worth $380,000 after purchasing an additional 5,875 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of SI-BONE during the 3rd quarter worth $353,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of SI-BONE during the 2nd quarter worth $454,000. Finally, The Manufacturers Life Insurance Company grew its holdings 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 purchasing an additional 1,105 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SIBN. Needham & Company LLC reduced their price objective on SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Morgan Stanley reduced their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Truist Financial reduced their price objective on SI-BONE from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $22.67.

SI-BONE Stock Performance

Shares of SIBN stock traded down $0.31 during mid-day trading on Friday, reaching $13.49. 249,126 shares of the stock traded hands, compared to its average volume of 405,689. The stock’s fifty day simple moving average is $14.37 and its two-hundred day simple moving average is $14.33. SI-BONE, Inc. has a 1-year low of $11.76 and a 1-year high of $21.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 9.17.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.04. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. The firm had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.95 million. During the same period last year, the firm posted ($0.30) earnings per share. Equities analysts predict that SI-BONE, Inc. will post -0.89 earnings per share for the current year.

Insider Transactions at SI-BONE

In other news, CEO Laura Francis sold 9,967 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the completion of the transaction, the chief executive officer now directly owns 492,923 shares in the company, valued at $6,822,054.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Laura Francis sold 9,967 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the completion of the transaction, the chief executive officer now directly owns 492,923 shares in the company, valued at $6,822,054.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony J. Recupero sold 2,087 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.17, for a total value of $29,572.79. Following the transaction, the insider now owns 236,717 shares of the company’s stock, valued at $3,354,279.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,676 shares of company stock worth $344,967 over the last ninety days. 3.90% of the stock is owned by insiders.

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.