Peregrine Capital Management LLC Reduces Stock Holdings in Silk Road Medical, Inc (NASDAQ:SILK)

Peregrine Capital Management LLC decreased its position in shares of Silk Road Medical, Inc (NASDAQ:SILK - Free Report) by 99.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,200 shares of the company's stock after selling 338,639 shares during the quarter. Peregrine Capital Management LLC's holdings in Silk Road Medical were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SILK. Algert Global LLC bought a new stake in shares of Silk Road Medical in the 3rd quarter valued at about $1,456,000. New York State Common Retirement Fund grew its position in shares of Silk Road Medical by 333.5% in the 3rd quarter. New York State Common Retirement Fund now owns 67,571 shares of the company's stock valued at $1,013,000 after buying an additional 51,983 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Silk Road Medical in the 3rd quarter valued at about $299,000. Aigen Investment Management LP bought a new stake in shares of Silk Road Medical in the 3rd quarter valued at about $222,000. Finally, Quantbot Technologies LP grew its position in shares of Silk Road Medical by 14,430.7% in the 3rd quarter. Quantbot Technologies LP now owns 61,610 shares of the company's stock valued at $924,000 after buying an additional 61,186 shares during the last quarter.

Silk Road Medical Stock Performance

Shares of SILK traded down $0.92 on Friday, reaching $18.20. 283,317 shares of the company's stock traded hands, compared to its average volume of 829,140. The company has a current ratio of 7.95, a quick ratio of 6.97 and a debt-to-equity ratio of 0.50. The stock has a market cap of $712.89 million, a PE ratio of -12.64 and a beta of 1.48. The stock's 50 day simple moving average is $17.25 and its two-hundred day simple moving average is $13.05. Silk Road Medical, Inc has a 52-week low of $6.08 and a 52-week high of $46.57.

Silk Road Medical (NASDAQ:SILK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.07. Silk Road Medical had a negative return on equity of 36.38% and a negative net margin of 31.70%. The company had revenue of $47.27 million during the quarter, compared to the consensus estimate of $42.23 million. On average, analysts forecast that Silk Road Medical, Inc will post -1.39 earnings per share for the current fiscal year.

Insider Transactions at Silk Road Medical

In other news, CAO Marie L. Jones sold 2,602 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $44,676.34. Following the completion of the transaction, the chief accounting officer now directly owns 76,894 shares of the company's stock, valued at $1,320,269.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Silk Road Medical news, Director Kevin J. Ballinger acquired 11,700 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the transaction, the director now owns 17,807 shares of the company's stock, valued at approximately $302,540.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Marie L. Jones sold 2,602 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $44,676.34. Following the completion of the sale, the chief accounting officer now owns 76,894 shares in the company, valued at approximately $1,320,269.98. The disclosure for this sale can be found here. Insiders sold 20,457 shares of company stock valued at $351,247 over the last three months. Company insiders own 6.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Argus raised Silk Road Medical from a "hold" rating to a "buy" rating and set a $24.00 price objective on the stock in a research note on Thursday, March 7th. JPMorgan Chase & Co. boosted their price objective on Silk Road Medical from $10.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, February 29th. Piper Sandler upped their price target on Silk Road Medical from $11.00 to $18.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. Stifel Nicolaus upped their price target on Silk Road Medical from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. Finally, Lake Street Capital initiated coverage on Silk Road Medical in a research note on Wednesday, January 3rd. They set a "buy" rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $22.18.

Silk Road Medical Profile

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.