SI-BONE (NASDAQ:SIBN) Trading Up 3.9% - Here's What Happened

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report)'s share price traded up 3.9% on Friday . The company traded as high as $13.11 and last traded at $12.93. 195,026 shares traded hands during trading, a decline of 50% from the average session volume of 390,482 shares. The stock had previously closed at $12.44.

Analyst Ratings Changes

A number of research firms have recently commented on SIBN. Morgan Stanley dropped their price objective on SI-BONE from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 6th. Truist Financial raised 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. Finally, Needham & Company LLC restated a "buy" rating and set a $19.00 target price on shares of SI-BONE in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $23.00.

SI-BONE Price Performance

The company's fifty day moving average price is $14.03 and its two-hundred day moving average price is $14.29. The company has a quick ratio of 8.12, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The company has a market cap of $541.86 million, a price-to-earnings ratio of -14.04 and a beta of 1.22.

Insiders Place Their Bets

In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total value of $44,881.90. Following the transaction, the insider now directly owns 233,412 shares of the company's stock, valued at $3,169,734.96. This represents a 1.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 7,147 shares of company stock valued at $102,194 in the last quarter. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SI-BONE

Several institutional investors and hedge funds have recently made changes to their positions in the company. Champlain Investment Partners LLC boosted its stake in SI-BONE by 104.8% in the 1st quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company's stock valued at $40,158,000 after purchasing an additional 1,255,610 shares during the period. Bellevue Group AG lifted its holdings in shares of SI-BONE by 810.5% during the first quarter. Bellevue Group AG now owns 1,139,956 shares of the company's stock worth $18,661,000 after buying an additional 1,014,756 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of SI-BONE by 222.5% in the third quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company's stock valued at $8,674,000 after acquiring an additional 428,110 shares during the period. American Century Companies Inc. grew its stake in shares of SI-BONE by 22.8% in the second 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 in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its position in 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 acquiring an additional 267,100 shares during the period. Institutional investors and hedge funds own 98.11% of the company's stock.

SI-BONE Company 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.