SI-BONE (NASDAQ:SIBN) Price Target Raised to $18.00

SI-BONE (NASDAQ:SIBN) had its price objective lifted by research analysts at Truist Financial from $16.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 34.13% from the company’s previous close.

Several other analysts also recently commented on SIBN. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of SI-BONE in a report on Wednesday. Morgan Stanley lowered their target price 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $23.00.

SI-BONE Stock Down 14.1 %

Shares of SIBN traded down $2.21 on Wednesday, reaching $13.42. The company’s stock had a trading volume of 405,845 shares, compared to its average volume of 387,327. SI-BONE has a twelve month low of $11.76 and a twelve month high of $21.70. The stock has a market capitalization of $559.48 million, a PE ratio of -14.72 and a beta of 1.22. The company has a current ratio of 9.17, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $14.20 and a 200-day moving average of $14.32.

Insider Activity

In related news, insider Anthony J. Recupero sold 2,087 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.17, for a total transaction of $29,572.79. Following the completion of the transaction, the insider now directly owns 236,717 shares in the company, valued at $3,354,279.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total transaction of $44,881.90. Following the completion of the sale, the insider now directly owns 233,412 shares in the company, valued at $3,169,734.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 2,087 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,354,279.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,017 shares of company stock worth $349,587. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On SI-BONE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC boosted its holdings in SI-BONE by 104.8% in the first quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock valued at $40,158,000 after acquiring an additional 1,255,610 shares in the last quarter. Bellevue Group AG increased its holdings in shares of SI-BONE by 810.5% during the first quarter. Bellevue Group AG now owns 1,139,956 shares of the company’s stock valued at $18,661,000 after acquiring an additional 1,014,756 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of SI-BONE by 222.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock worth $8,674,000 after purchasing an additional 428,110 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of 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 purchasing an additional 368,637 shares during 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 purchasing an additional 267,100 shares during the period. 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.