SI-BONE, Inc. (NASDAQ:SIBN) Receives $23.00 Average Target Price from Analysts

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $23.00.

SIBN has been the subject of several recent analyst reports. Truist Financial upped their price objective on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of SI-BONE in a report on Wednesday, November 20th.

SI-BONE Stock Up 1.5 %

NASDAQ SIBN opened at $13.25 on Wednesday. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $21.70. The business has a fifty day moving average price of $13.42 and a two-hundred day moving average price of $14.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. The stock has a market capitalization of $555.68 million, a PE ratio of -14.40 and a beta of 1.20.

Insider Buying and Selling

In related news, CFO Anshul Maheshwari sold 2,439 shares of SI-BONE stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.68, for a total transaction of $30,926.52. Following the sale, the chief financial officer now directly owns 194,623 shares in the company, valued at $2,467,819.64. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 3,937 shares of the company’s stock in a transaction that occurred 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 owns 228,554 shares of the company’s stock, valued at approximately $2,879,780.40. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,679 shares of company stock worth $276,439 in the last 90 days. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC grew its position in shares of SI-BONE by 103.6% in the 3rd 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. Canada Pension Plan Investment Board acquired a new position in shares of SI-BONE in the second quarter worth approximately $61,000. Walleye Capital LLC bought a new stake in SI-BONE in the third quarter valued at approximately $144,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in SI-BONE by 24.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock valued at $138,000 after purchasing an additional 2,108 shares during the period. Finally, Arizona State Retirement System raised its holdings in SI-BONE by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after purchasing an additional 903 shares during the last quarter. 98.11% of the stock is owned by institutional investors.

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.