SI-BONE (NASDAQ:SIBN) Stock Price Down 4.2%

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) was down 4.2% on Monday . The stock traded as low as $14.62 and last traded at $14.68. Approximately 88,028 shares changed hands during trading, a decline of 80% from the average daily volume of 432,638 shares. The stock had previously closed at $15.33.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SIBN shares. Morgan Stanley decreased their target price on SI-BONE from $26.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $27.00 target price on shares of SI-BONE in a research report on Tuesday, May 7th. Cantor Fitzgerald reiterated an "overweight" rating and set a $25.00 price target on shares of SI-BONE in a research note on Tuesday, February 27th. Piper Sandler began coverage on shares of SI-BONE in a research note on Thursday, March 28th. They issued an "overweight" rating and a $25.00 price objective for the company. Finally, JMP Securities reiterated a "market outperform" rating and set a $32.00 target price on shares of SI-BONE in a research report on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, SI-BONE currently has an average rating of "Buy" and an average target price of $27.29.

SI-BONE Stock Performance

The company has a current ratio of 9.76, a quick ratio of 8.75 and a debt-to-equity ratio of 0.22. The stock has a market cap of $618.15 million, a price-to-earnings ratio of -14.06 and a beta of 1.24. The stock's 50 day moving average is $15.71 and its two-hundred day moving average is $17.97.

SI-BONE (NASDAQ:SIBN - Get Free Report) last announced its earnings results 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. The business had revenue of $38.86 million during the quarter, compared to the consensus estimate of $38.60 million. SI-BONE had a negative net margin of 29.93% and a negative return on equity of 25.14%. Analysts anticipate that SI-BONE, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at SI-BONE

In other news, CFO Anshul Maheshwari sold 2,425 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Anshul Maheshwari sold 2,425 shares of the business's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the transaction, 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 document filed with the SEC, which is available at this hyperlink. Also, Director Mika Nishimura sold 2,500 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total transaction of $40,550.00. Following the transaction, the director now directly owns 19,350 shares of the company's stock, valued at $313,857. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,905 shares of company stock worth $190,273. 5.40% of the stock is currently owned by insiders.

Institutional Trading of SI-BONE

A number of institutional investors have recently modified their holdings of SIBN. Champlain Investment Partners LLC lifted 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 during the period. Victory Capital Management Inc. acquired a new stake in shares of SI-BONE in the fourth quarter valued at about $6,721,000. Brown Advisory Inc. boosted its holdings in SI-BONE by 5.4% during the fourth quarter. Brown Advisory Inc. now owns 4,207,703 shares of the company's stock worth $88,320,000 after buying an additional 214,089 shares in the last quarter. Wellington Management Group LLP boosted its holdings in SI-BONE by 34.9% during the fourth quarter. Wellington Management Group LLP now owns 817,048 shares of the company's stock worth $17,150,000 after buying an additional 211,209 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in SI-BONE by 92.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 419,940 shares of the company's stock worth $8,815,000 after buying an additional 201,615 shares during the period. 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.

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