SI-BONE (NASDAQ:SIBN) Trading 8.1% Higher - Here's Why

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) was up 8.1% during trading on Monday . The company traded as high as $14.99 and last traded at $14.83. Approximately 32,225 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 246,155 shares. The stock had previously closed at $13.72.

Analysts Set New Price Targets

A number of research analysts recently commented on SIBN shares. Needham & Company LLC reissued a "buy" rating and issued a $19.00 price target on shares of SI-BONE in a report on Monday. Truist Financial upped their price objective on SI-BONE from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $23.00.

SI-BONE Trading Up 18.3 %

The stock has a market cap of $680.65 million, a P/E ratio of -17.64 and a beta of 1.16. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $13.73 and a two-hundred day moving average price of $14.24.

Insider Activity

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the transaction, the insider now owns 222,814 shares of the company's stock, valued at $3,097,114.60. This represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the transaction, the chief financial officer now directly owns 189,319 shares in the company, valued at $2,633,427.29. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,348 shares of company stock valued at $356,349. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SI-BONE

Several hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in shares of SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company's stock worth $33,000 after buying an additional 1,198 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of SI-BONE during the 2nd quarter worth $61,000. Walleye Capital LLC bought a new position in shares of SI-BONE during the 3rd quarter worth $144,000. Arizona State Retirement System grew its position in shares of SI-BONE by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company's stock worth $141,000 after buying an additional 903 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of SI-BONE during the 2nd quarter worth $151,000. 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.