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

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

Specifically, CEO Laura Francis sold 10,048 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.58, for a total transaction of $126,403.84. Following the transaction, the chief executive officer now directly owns 482,875 shares in the company, valued at approximately $6,074,567.50. This represents a 2.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 of the company’s stock, valued at $2,467,819.64. The trade was 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 the 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 transaction, the insider now directly owns 228,554 shares in the company, valued at $2,879,780.40. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

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

SI-BONE Price Performance

The stock has a market cap of $526.74 million, a PE ratio of -13.65 and a beta of 1.22. The business’s 50-day simple moving average is $13.72 and its 200-day simple moving average is $14.22. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. FMR LLC lifted its holdings in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after buying an additional 1,198 shares during the period. Canada Pension Plan Investment Board bought a new stake in SI-BONE in the second quarter valued at $61,000. Walleye Capital LLC purchased a new position in SI-BONE during the 3rd quarter valued at $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% in 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 in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

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.