Granahan Investment Management LLC Decreases Stock Position in SI-BONE, Inc. (NASDAQ:SIBN)

Granahan Investment Management LLC trimmed its holdings in shares of SI-BONE, Inc. (NASDAQ:SIBNGet Rating) by 0.2% in the first quarter, Holdings Channel reports. The institutional investor owned 737,712 shares of the company’s stock after selling 1,230 shares during the period. Granahan Investment Management LLC’s holdings in SI-BONE were worth $16,672,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in SI-BONE by 4.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 211,315 shares of the company’s stock worth $4,776,000 after buying an additional 9,108 shares during the last quarter. First Light Asset Management LLC lifted its holdings in SI-BONE by 50.6% during the 1st quarter. First Light Asset Management LLC now owns 1,084,634 shares of the company’s stock worth $24,513,000 after buying an additional 364,391 shares during the last quarter. Bridgewater Associates LP lifted its holdings in SI-BONE by 29.9% during the 1st quarter. Bridgewater Associates LP now owns 44,272 shares of the company’s stock worth $1,001,000 after buying an additional 10,198 shares during the last quarter. Next Century Growth Investors LLC lifted its holdings in SI-BONE by 13.6% during the 1st quarter. Next Century Growth Investors LLC now owns 697,457 shares of the company’s stock worth $15,762,000 after buying an additional 83,536 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in SI-BONE by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,584,540 shares of the company’s stock worth $35,811,000 after buying an additional 25,272 shares during the last quarter.

Insider Activity at SI-BONE

In related news, Director Jeryl L. Hilleman sold 1,924 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $13.81, for a total value of $26,570.44. Following the transaction, the director now owns 6,321 shares in the company, valued at approximately $87,293.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SI-BONE news, Director Jeryl L. Hilleman sold 1,924 shares of SI-BONE stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $13.81, for a total value of $26,570.44. Following the sale, the director now owns 6,321 shares of the company’s stock, valued at approximately $87,293.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey W. Dunn sold 2,116 shares of SI-BONE stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $14.28, for a total value of $30,216.48. Following the completion of the sale, the director now directly owns 135,267 shares in the company, valued at approximately $1,931,612.76. The disclosure for this sale can be found here. Insiders have sold 28,843 shares of company stock worth $482,792 in the last quarter. Company insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SIBN. JMP Securities reiterated a “buy” rating and set a $36.00 target price on shares of SI-BONE in a research report on Wednesday, June 1st. Needham & Company LLC cut their target price on SI-BONE from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Morgan Stanley lifted their target price on SI-BONE from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Finally, Truist Financial cut their target price on SI-BONE to $17.00 in a research report on Friday, July 22nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, SI-BONE currently has an average rating of “Buy” and an average target price of $27.57.

SI-BONE Stock Performance

Shares of SIBN stock opened at $17.37 on Friday. The stock has a market capitalization of $588.57 million, a PE ratio of -8.82 and a beta of 1.24. SI-BONE, Inc. has a 52-week low of $11.89 and a 52-week high of $25.00. The stock’s 50-day moving average price is $15.48 and its 200 day moving average price is $17.03. The company has a quick ratio of 7.91, a current ratio of 8.90 and a debt-to-equity ratio of 0.32.

SI-BONE (NASDAQ:SIBNGet Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.05). SI-BONE had a negative net margin of 69.36% and a negative return on equity of 51.84%. During the same period last year, the firm posted ($0.42) earnings per share. As a group, equities research analysts forecast that SI-BONE, Inc. will post -1.89 EPS for the current year.

About SI-BONE

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SI-BONE, Inc, a medical device company, develops implantable devices used to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers iFuse, a minimally invasive surgical implant system to address sacroiliac joint dysfunction and degeneration, adult deformity, and pelvic ring traumatic fractures.

See Also

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Institutional Ownership by Quarter for SI-BONE (NASDAQ:SIBN)

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