AlphaQuest LLC Raises Stake in SI-BONE, Inc. (NASDAQ:SIBN)

AlphaQuest LLC grew its stake in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 13,950.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,662 shares of the company’s stock after purchasing an additional 11,579 shares during the quarter. AlphaQuest LLC’s holdings in SI-BONE were worth $164,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Champlain Investment Partners LLC raised its holdings in shares of SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock valued at $39,145,000 after acquiring an additional 358,821 shares in the last quarter. Bellevue Group AG raised its holdings in shares of SI-BONE by 4.1% in the third quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock valued at $20,189,000 after acquiring an additional 56,500 shares in the last quarter. State Street Corp raised its holdings in shares of SI-BONE by 5.1% in the third quarter. State Street Corp now owns 1,081,871 shares of the company’s stock valued at $15,125,000 after acquiring an additional 52,972 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of SI-BONE by 3.5% in the third quarter. Wellington Management Group LLP now owns 1,028,238 shares of the company’s stock valued at $14,375,000 after acquiring an additional 35,220 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of SI-BONE by 3.4% in the third quarter. Geode Capital Management LLC now owns 924,044 shares of the company’s stock valued at $12,921,000 after acquiring an additional 30,005 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC boosted their target price on shares of SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Truist Financial reiterated a “buy” rating and issued a $22.00 target price (up from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a report on Tuesday, February 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $24.50.

Insider Activity

In related news, CFO Anshul Maheshwari sold 5,304 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the sale, the chief financial officer now owns 189,319 shares in the company, valued at $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 3,670 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total value of $51,013.00. Following the completion of the sale, the insider now owns 222,814 shares in the company, valued at approximately $3,097,114.60. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock worth $130,356 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

SI-BONE Stock Performance

SIBN opened at $15.22 on Tuesday. SI-BONE, Inc. has a 52-week low of $11.70 and a 52-week high of $19.16. 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 has a market cap of $646.13 million, a P/E ratio of -16.54 and a beta of 1.17. The firm’s 50-day moving average price is $16.56 and its 200-day moving average price is $14.84.

SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The firm had revenue of $49.00 million for the quarter, compared to the consensus estimate of $48.87 million. As a group, equities analysts anticipate that SI-BONE, Inc. will post -0.78 EPS for the current fiscal year.

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.