Apis Capital Advisors LLC Takes $2.76 Million Position in Silk Road Medical, Inc (NASDAQ:SILK)

Apis Capital Advisors LLC acquired a new stake in Silk Road Medical, Inc (NASDAQ:SILK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 102,200 shares of the company’s stock, valued at approximately $2,763,000. Silk Road Medical comprises approximately 2.0% of Apis Capital Advisors LLC’s investment portfolio, making the stock its 19th largest position. Apis Capital Advisors LLC owned 0.25% of Silk Road Medical at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SILK. Magnetar Financial LLC acquired a new stake in shares of Silk Road Medical during the 2nd quarter worth $53,279,000. Gabelli Funds LLC increased its holdings in Silk Road Medical by 338.3% in the 2nd quarter. Gabelli Funds LLC now owns 330,423 shares of the company’s stock worth $8,935,000 after purchasing an additional 255,031 shares in the last quarter. ProShare Advisors LLC acquired a new stake in Silk Road Medical during the 2nd quarter worth approximately $389,000. XTX Topco Ltd acquired a new position in shares of Silk Road Medical in the second quarter worth approximately $276,000. Finally, First Eagle Investment Management LLC boosted its position in Silk Road Medical by 135.4% during the second quarter. First Eagle Investment Management LLC now owns 206,220 shares of the company’s stock valued at $5,576,000 after acquiring an additional 118,625 shares during the last quarter.

Analysts Set New Price Targets

SILK has been the topic of a number of recent research reports. Stifel Nicolaus reiterated a “hold” rating and issued a $27.50 target price (up from $23.00) on shares of Silk Road Medical in a report on Wednesday, July 17th. Argus cut Silk Road Medical from a “buy” rating to a “sell” rating in a research report on Thursday, July 11th. Finally, Lake Street Capital reiterated a “hold” rating and set a $27.50 target price (down from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.29.

Silk Road Medical Price Performance

Shares of NASDAQ:SILK opened at $27.49 on Monday. The company has a market capitalization of $1.12 billion, a P/E ratio of -20.07 and a beta of 1.53. Silk Road Medical, Inc has a 1-year low of $6.08 and a 1-year high of $27.51. The firm’s 50 day simple moving average is $27.14 and its two-hundred day simple moving average is $23.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 7.63 and a quick ratio of 6.69.

Silk Road Medical (NASDAQ:SILK) last issued its earnings results on Wednesday, August 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The firm had revenue of $51.20 million during the quarter, compared to the consensus estimate of $49.74 million. Silk Road Medical had a negative return on equity of 37.30% and a negative net margin of 29.53%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) earnings per share. Research analysts expect that Silk Road Medical, Inc will post -1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kevin M. Klemz sold 2,268 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.10, for a total value of $61,462.80. Following the completion of the sale, the executive vice president now directly owns 162,926 shares of the company’s stock, valued at approximately $4,415,294.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.90% of the company’s stock.

Silk Road Medical Company Profile

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.