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

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have been assigned an average rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.00.

Several equities analysts recently weighed in on the stock. Truist Financial increased 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. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research report on Wednesday, November 20th.

Insider Buying and Selling at SI-BONE

In related news, insider Anthony J. Recupero sold 3,305 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total value of $44,881.90. Following the transaction, the insider now directly owns 233,412 shares in the company, valued at approximately $3,169,734.96. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laura Francis sold 10,048 shares of SI-BONE stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.58, for a total transaction of $126,403.84. Following the sale, the chief executive officer now owns 482,875 shares of the company’s stock, valued at approximately $6,074,567.50. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,679 shares of company stock valued at $276,439 in the last three months. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after purchasing an additional 1,198 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of SI-BONE during the second quarter worth approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 last quarter. Arizona State Retirement System lifted its holdings in shares of 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 last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of SI-BONE in the 3rd quarter valued at $144,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Stock Performance

SIBN stock opened at $13.27 on Wednesday. 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 firm has a market cap of $556.52 million, a PE ratio of -14.42 and a beta of 1.20. The business has a 50 day moving average of $13.42 and a 200-day moving average of $14.08. SI-BONE has a 12-month low of $11.70 and a 12-month high of $21.70.

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.