SI-BONE (NASDAQ:SIBN) Trading Up 4.6%

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report)'s share price was up 4.6% on Tuesday . The stock traded as high as $16.15 and last traded at $16.02. Approximately 109,771 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 446,774 shares. The stock had previously closed at $15.32.

Analysts Set New Price Targets

Several research analysts recently weighed in on SIBN shares. Truist Financial reiterated a "buy" rating and issued a $24.00 price objective (down from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Morgan Stanley increased their price objective on SI-BONE from $25.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. Needham & Company LLC reiterated a "buy" rating and issued a $27.00 price objective on shares of SI-BONE in a research report on Wednesday, April 3rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $25.00 price objective on shares of SI-BONE in a research report on Tuesday, February 27th. Finally, Piper Sandler assumed coverage on SI-BONE in a research report on Thursday, March 28th. They issued an "overweight" rating and a $25.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $26.67.

SI-BONE Stock Performance

The firm has a 50-day moving average price of $18.12 and a 200 day moving average price of $18.67. The firm has a market capitalization of $670.92 million, a PE ratio of -14.25 and a beta of 1.20. The company has a quick ratio of 8.15, a current ratio of 9.01 and a debt-to-equity ratio of 0.21.

SI-BONE (NASDAQ:SIBN - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.27) EPS 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 business had revenue of $38.86 million during the quarter, compared to analyst estimates of $38.60 million. Research analysts expect that SI-BONE, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other news, CFO Anshul Maheshwari sold 2,425 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total value of $37,466.25. Following the sale, the chief financial officer now directly owns 205,516 shares in the company, valued at $3,175,222.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other SI-BONE news, insider Anthony J. Recupero sold 3,330 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total value of $56,010.60. Following the sale, the insider now directly owns 255,760 shares in the company, valued at $4,301,883.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 2,425 shares of the firm's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total value of $37,466.25. Following the completion of the sale, the chief financial officer now owns 205,516 shares in the company, valued at $3,175,222.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,562 shares of company stock worth $185,285. Corporate insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On SI-BONE

A number of institutional investors have recently added to or reduced their stakes in SIBN. Quarry LP purchased a new stake in SI-BONE in the 4th quarter valued at approximately $28,000. FMR LLC boosted its holdings in SI-BONE by 28.7% in the 1st quarter. FMR LLC now owns 2,160 shares of the company's stock valued at $42,000 after purchasing an additional 482 shares in the last quarter. Comerica Bank purchased a new stake in SI-BONE in the 3rd quarter valued at approximately $47,000. Ensign Peak Advisors Inc purchased a new stake in SI-BONE in the 3rd quarter valued at approximately $48,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of SI-BONE during the 2nd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 98.11% of the company's stock.

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.