Shoulder Innovations (NYSE:SI) Trading Down 1.5% - What's Next?

Key Points

• Shoulder Innovations Inc shares fell by 1.5% to trade at $14.06 on Tuesday, with a total volume of 305,834 shares, which is a 12% decline from its average trading volume.
• Director Casey M. Tansey significantly increased his stake by purchasing 40,000 shares at $15.00 each, totaling $600,000, representing a 521.78% increase in ownership.
• Insiders have acquired a total of 778,382 shares valued at $11.67 million in the last quarter, indicating a strong insider confidence in the company's future.

Shoulder Innovations, Inc. (NYSE:SI - Get Free Report)'s share price was down 1.5% on Tuesday . The stock traded as low as $13.78 and last traded at $14.06. Approximately 305,834 shares changed hands during trading, a decline of 12% from the average daily volume of 348,411 shares. The stock had previously closed at $14.27.

Shoulder Innovations Trading Up 1.3%

Insider Activity

In other news, Director Geoffrey B. Pardo acquired 100,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $15.00 per share, with a total value of $1,500,000.00. Following the purchase, the director owned 2,380,482 shares of the company's stock, valued at approximately $35,707,230. This represents a 4.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Casey M. Tansey acquired 40,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $600,000.00. Following the purchase, the director directly owned 47,666 shares in the company, valued at approximately $714,990. This represents a 521.78% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 778,382 shares of company stock worth $11,675,730 over the last ninety days. 1.71% of the stock is currently owned by company insiders.

Shoulder Innovations Company Profile

We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain.