SI-BONE (NASDAQ:SIBN) Stock Price Down 2.6% – Time to Sell?

SI-BONE, Inc. (NASDAQ:SIBN) dropped 2.6% during trading on Tuesday . The stock traded as low as $15.71 and last traded at $15.80. Approximately 27,730 shares were traded during trading, a decline of 91% from the average daily volume of 297,866 shares. The stock had previously closed at $16.23.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SIBN shares. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of SI-BONE in a research report on Monday. Truist Financial raised their price objective 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $23.00.

SI-BONE Price Performance

The stock has a market capitalization of $629.49 million, a PE ratio of -16.32 and a beta of 1.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. The firm’s 50 day simple moving average is $13.73 and its 200 day simple moving average is $14.24.

Insider Buying and Selling

In other SI-BONE news, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the sale, the chief financial officer now owns 189,319 shares of the company’s stock, valued at $2,633,427.29. This represents a 2.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Laura Francis sold 10,048 shares of the business’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 transaction, the chief executive officer now owns 482,875 shares in the company, valued at $6,074,567.50. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,348 shares of company stock worth $356,349 in the last 90 days. 3.90% of the stock is owned by company insiders.

Institutional Trading of SI-BONE

Several large investors have recently modified their holdings of SIBN. Bank of New York Mellon Corp grew its position 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 worth $1,837,000 after buying an additional 12,158 shares during the last quarter. Rhumbline Advisers lifted its stake in SI-BONE by 1.5% in the second quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock worth $768,000 after acquiring an additional 852 shares during the period. Arizona State Retirement System boosted its holdings in SI-BONE by 9.0% in the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after acquiring an additional 903 shares in the last quarter. American Century Companies Inc. increased its position in SI-BONE by 22.8% during the 2nd 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 during the period. Finally, Divisadero Street Capital Management LP bought a new position in SI-BONE in the 2nd quarter worth $1,552,000. 98.11% of the stock is owned by institutional investors.

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.