VELA Investment Management LLC Increases Stock Position in SI-BONE, Inc. (NASDAQ:SIBN)

VELA Investment Management LLC boosted its stake in shares of SI-BONE, Inc. (NASDAQ:SIBN - Free Report) by 23.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 122,671 shares of the company's stock after buying an additional 23,592 shares during the period. VELA Investment Management LLC owned approximately 0.29% of SI-BONE worth $1,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in shares of SI-BONE by 103.6% during the third quarter. FMR LLC now owns 2,354 shares of the company's stock valued at $33,000 after buying an additional 1,198 shares during the last quarter. R Squared Ltd bought a new stake in shares of SI-BONE during the fourth quarter valued at approximately $73,000. Walleye Capital LLC purchased a new stake in shares of SI-BONE in the third quarter valued at approximately $144,000. Proficio Capital Partners LLC purchased a new position in SI-BONE during the 4th quarter worth $155,000. Finally, Versor Investments LP purchased a new position in SI-BONE during the 4th quarter worth $185,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SI-BONE

In other news, CFO Anshul Maheshwari sold 5,304 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the transaction, the chief financial officer now owns 189,319 shares of the company's stock, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total transaction of $51,013.00. Following the transaction, the insider now directly owns 222,814 shares in the company, valued at $3,097,114.60. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock valued at $130,356 over the last ninety days. Corporate insiders own 3.90% of the company's stock.

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SI-BONE Stock Performance

Shares of NASDAQ:SIBN traded down $0.57 during trading on Tuesday, hitting $17.00. The stock had a trading volume of 429,042 shares, compared to its average volume of 360,031. The stock has a 50-day simple moving average of $16.19 and a two-hundred day simple moving average of $14.83. The stock has a market capitalization of $721.74 million, a price-to-earnings ratio of -18.48 and a beta of 1.17. SI-BONE, Inc. has a 12-month low of $11.70 and a 12-month high of $19.16. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. The company had revenue of $49.00 million for the quarter, compared to analyst estimates of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. On average, equities research analysts expect that SI-BONE, Inc. will post -0.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Truist Financial reissued a "buy" rating and set a $22.00 target price (up previously from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th. Needham & Company LLC upped their target price on SI-BONE from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price objective on shares of SI-BONE in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $24.50.

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.