Squarepoint Ops LLC Makes New Investment in SI-BONE, Inc. (NASDAQ:SIBN)

Squarepoint Ops LLC purchased a new stake in shares of SI-BONE, Inc. (NASDAQ:SIBN) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 19,459 shares of the company’s stock, valued at approximately $252,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace LLP lifted its position in SI-BONE by 49.9% during the second quarter. Marshall Wace LLP now owns 208,686 shares of the company’s stock valued at $2,698,000 after purchasing an additional 69,425 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its holdings in shares of SI-BONE by 24.7% during the 2nd 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 last quarter. Sei Investments Co. lifted its holdings in shares of SI-BONE by 98.6% during the 2nd quarter. Sei Investments Co. now owns 58,174 shares of the company’s stock worth $752,000 after acquiring an additional 28,880 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in SI-BONE in the second quarter worth $61,000. Finally, Divisadero Street Capital Management LP bought a new position in SI-BONE in the second quarter valued at $1,552,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, CFO Anshul Maheshwari sold 2,418 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.87, for a total value of $33,537.66. Following the transaction, the chief financial officer now owns 198,762 shares in the company, valued at approximately $2,756,828.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SI-BONE news, CEO Laura Francis sold 9,967 shares of SI-BONE stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the sale, the chief executive officer now directly owns 492,923 shares of the company’s stock, valued at approximately $6,822,054.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 2,418 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.87, for a total value of $33,537.66. Following the completion of the transaction, the chief financial officer now owns 198,762 shares of the company’s stock, valued at approximately $2,756,828.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,019 shares of company stock valued at $349,879 in the last quarter. Company insiders own 3.90% of the company’s stock.

SI-BONE Trading Up 0.5 %

NASDAQ SIBN opened at $13.13 on Friday. The firm has a market cap of $547.39 million, a PE ratio of -13.00 and a beta of 1.22. SI-BONE, Inc. has a 1-year low of $11.76 and a 1-year high of $21.70. The stock has a 50-day moving average of $14.77 and a 200-day moving average of $14.60. The company has a current ratio of 9.17, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.04. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. The firm had revenue of $39.97 million during the quarter, compared to the consensus estimate of $38.95 million. During the same quarter in the previous year, the company posted ($0.30) earnings per share. As a group, sell-side analysts forecast that SI-BONE, Inc. will post -0.89 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley dropped their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Truist Financial dropped their target price on SI-BONE from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reduced their price target on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SI-BONE currently has a consensus rating of “Buy” and an average price target of $23.00.

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.