Brokerages Set SI-BONE, Inc. (NASDAQ:SIBN) Target Price at $23.00

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

Several analysts have commented on the stock. Truist Financial boosted their target price on shares of 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 reiterated a “buy” rating and issued a $19.00 price objective on shares of SI-BONE in a report on Monday.

SI-BONE Stock Performance

Shares of SI-BONE stock opened at $15.70 on Friday. SI-BONE has a 12 month low of $11.70 and a 12 month high of $21.64. 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 stock has a market cap of $658.43 million, a PE ratio of -17.07 and a beta of 1.16. The business has a fifty day simple moving average of $13.73 and a 200-day simple moving average of $14.24.

Insider Activity

In other news, CEO Laura Francis sold 10,048 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.58, for a total transaction of $126,403.84. Following the completion of the sale, the chief executive officer now owns 482,875 shares in the company, valued at approximately $6,074,567.50. This trade represents a 2.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anthony J. Recupero sold 3,937 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.60, for a total value of $49,606.20. Following the transaction, the insider now owns 228,554 shares in the company, valued at approximately $2,879,780.40. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,348 shares of company stock worth $356,349 over the last ninety days. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

Several hedge funds and other institutional investors have recently made changes to their positions in SIBN. Bank of New York Mellon Corp lifted its stake in shares of SI-BONE by 9.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 142,106 shares of the company’s stock valued at $1,837,000 after purchasing an additional 12,158 shares during the period. Rhumbline Advisers increased its holdings in SI-BONE by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock worth $768,000 after purchasing an additional 852 shares in the last quarter. Arizona State Retirement System raised its position in SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after buying an additional 903 shares during the last quarter. American Century Companies Inc. lifted its position in shares of SI-BONE by 22.8% during the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after purchasing an additional 368,637 shares in the last quarter. Finally, Divisadero Street Capital Management LP bought a new position in shares of SI-BONE during the 2nd quarter worth approximately $1,552,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.