Royce & Associates LP Cuts Stock Position in SI-BONE, Inc. (NASDAQ:SIBN)

Royce & Associates LP trimmed its holdings in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 24.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,000 shares of the company’s stock after selling 35,000 shares during the period. Royce & Associates LP owned 0.26% of SI-BONE worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in shares of SI-BONE in the second quarter worth about $61,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SI-BONE by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after acquiring an additional 2,108 shares during the period. Arizona State Retirement System boosted its holdings in SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after acquiring an additional 903 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in SI-BONE in the second quarter valued at approximately $151,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of SI-BONE during the second quarter valued at approximately $152,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SI-BONE Stock Performance

Shares of SI-BONE stock opened at $12.32 on Wednesday. The firm has a market cap of $516.70 million, a PE ratio of -13.39 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 firm’s 50-day simple moving average is $13.91 and its 200-day simple moving average is $14.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25.

Insiders Place Their Bets

In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total transaction of $44,881.90. Following the sale, the insider now directly owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 5,060 shares of company stock valued at $72,621 in the last quarter. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley decreased their price objective on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research report on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $23.00.

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.