Millrace Asset Group Inc. Buys Shares of 75,542 SI-BONE, Inc. (NASDAQ:SIBN)

Millrace Asset Group Inc. purchased a new position in SI-BONE, Inc. (NASDAQ:SIBN - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 75,542 shares of the company's stock, valued at approximately $1,056,000. Millrace Asset Group Inc. owned 0.18% of SI-BONE at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Champlain Investment Partners LLC raised its position in shares of SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company's stock worth $39,145,000 after buying an additional 358,821 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of SI-BONE by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company's stock valued at $40,328,000 after acquiring an additional 43,670 shares during the last quarter. American Century Companies Inc. boosted its position in shares of SI-BONE by 22.8% during the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company's stock valued at $25,685,000 after acquiring an additional 368,637 shares during the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of 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 worth $17,448,000 after purchasing an additional 267,100 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of SI-BONE by 41.3% in the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company's stock worth $10,604,000 after purchasing an additional 221,604 shares during the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SI-BONE

In other news, insider Anthony J. Recupero sold 3,937 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.60, for a total transaction of $49,606.20. Following the completion of the transaction, the insider now directly owns 228,554 shares of the company's stock, valued at approximately $2,879,780.40. This represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 2,439 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.68, for a total value of $30,926.52. Following the completion of the sale, the chief financial officer now owns 194,623 shares of the company's stock, valued at approximately $2,467,819.64. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,093 shares of company stock worth $299,558. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $19.00 target price on shares of SI-BONE in a research report on Wednesday, November 20th. Morgan Stanley cut their target price on shares of SI-BONE from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. Finally, Truist Financial increased their target price on SI-BONE from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $23.00.

SI-BONE Trading Up 2.5 %

Shares of SIBN stock traded up $0.31 on Tuesday, hitting $12.96. 241,309 shares of the company's stock traded hands, compared to its average volume of 390,098. The company's fifty day simple moving average is $13.67 and its 200 day simple moving average is $14.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. SI-BONE, Inc. has a one year low of $11.70 and a one year high of $21.70. The stock has a market capitalization of $543.54 million, a price-to-earnings ratio of -14.13 and a beta of 1.22.

SI-BONE Profile

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.