SI-BONE (NASDAQ:SIBN) Shares Gap Up to $15.82

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.82, but opened at $16.71. SI-BONE shares last traded at $16.33, with a volume of 49,669 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SIBN. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a research report on Tuesday, February 27th. Morgan Stanley increased their price target on shares of SI-BONE from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Piper Sandler initiated coverage on shares of SI-BONE in a report on Thursday. They issued an “overweight” rating and a $25.00 price target on the stock. Truist Financial reissued a “buy” rating and issued a $24.00 price target (down from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of SI-BONE in a report on Monday, December 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $26.33.

SI-BONE Price Performance

The business’s 50 day moving average is $18.70 and its two-hundred day moving average is $19.05. The firm has a market capitalization of $677.49 million, a PE ratio of -14.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. The business had revenue of $38.86 million for the quarter, compared to analysts’ expectations of $38.60 million. As a group, research analysts anticipate that SI-BONE, Inc. will post -0.97 EPS for the current year.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 1,936 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $20.93, for a total transaction of $40,520.48. Following the transaction, the insider now directly owns 198,903 shares in the company, valued at $4,163,039.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Timothy E. Davis, Jr. sold 9,900 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $20.93, for a total value of $207,207.00. Following the transaction, the director now owns 22,361 shares in the company, valued at $468,015.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony J. Recupero sold 1,936 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $20.93, for a total transaction of $40,520.48. Following the completion of the transaction, the insider now owns 198,903 shares in the company, valued at approximately $4,163,039.79. The disclosure for this sale can be found here. Insiders have sold 19,136 shares of company stock worth $375,040 over the last ninety days. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SIBN. JPMorgan Chase & Co. grew its holdings in shares of SI-BONE by 37.9% in the first quarter. JPMorgan Chase & Co. now owns 167,745 shares of the company’s stock worth $3,791,000 after purchasing an additional 46,086 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of SI-BONE in the first quarter worth approximately $220,000. MetLife Investment Management LLC boosted its holdings in SI-BONE by 54.2% in the first quarter. MetLife Investment Management LLC now owns 18,825 shares of the company’s stock valued at $425,000 after acquiring an additional 6,615 shares in the last quarter. Rhumbline Advisers boosted its holdings in SI-BONE by 8.3% in the first quarter. Rhumbline Advisers now owns 32,233 shares of the company’s stock valued at $728,000 after acquiring an additional 2,476 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in SI-BONE by 0.4% in the first quarter. BlackRock Inc. now owns 2,709,443 shares of the company’s stock valued at $61,233,000 after acquiring an additional 9,645 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

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.