SI-BONE (NASDAQ:SIBN) Hits New 52-Week Low After Insider Selling

SI-BONE, Inc. (NASDAQ:SIBN) shares reached a new 52-week low during trading on Thursday after an insider sold shares in the company. The stock traded as low as $11.70 and last traded at $12.02, with a volume of 43968 shares traded. The stock had previously closed at $12.15.

Specifically, CEO Laura Francis sold 10,048 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.58, for a total value of $126,403.84. Following the completion of the sale, the chief executive officer now directly owns 482,875 shares of the company’s stock, valued at $6,074,567.50. This trade represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Anshul Maheshwari sold 2,439 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.68, for a total value of $30,926.52. Following the completion of the sale, the chief financial officer now owns 194,623 shares in the company, valued at approximately $2,467,819.64. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. In other SI-BONE news, insider Anthony J. Recupero sold 3,937 shares of SI-BONE stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.60, for a total transaction of $49,606.20. Following the completion of the transaction, the insider now directly owns 228,554 shares of the company’s stock, valued at $2,879,780.40. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SIBN. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research note on Wednesday. Truist Financial boosted 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. Finally, Morgan Stanley lowered their target price 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE presently has a consensus rating of “Buy” and a consensus price target of $23.00.

SI-BONE Price Performance

The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The company’s fifty day moving average price is $13.79 and its 200 day moving average price is $14.23. The company has a market capitalization of $516.24 million, a P/E ratio of -13.38 and a beta of 1.22.

Hedge Funds Weigh In On SI-BONE

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of SI-BONE by 190.8% during the 3rd quarter. Barclays PLC now owns 96,623 shares of the company’s stock worth $1,350,000 after purchasing an additional 63,402 shares in the last quarter. Geode Capital Management LLC lifted its position in SI-BONE by 3.4% during the third quarter. Geode Capital Management LLC now owns 924,044 shares of the company’s stock worth $12,921,000 after purchasing an additional 30,005 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in SI-BONE during the third quarter worth about $448,000. Pier Capital LLC increased its holdings in SI-BONE by 23.6% in the 3rd quarter. Pier Capital LLC now owns 465,898 shares of the company’s stock valued at $6,513,000 after buying an additional 88,897 shares during the period. Finally, Jane Street Group LLC raised its position in shares of SI-BONE by 29.0% in the 3rd quarter. Jane Street Group LLC now owns 77,359 shares of the company’s stock valued at $1,081,000 after buying an additional 17,410 shares in the last quarter. Institutional investors 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.