JPMorgan Chase & Co. Buys 102,660 Shares of SI-BONE, Inc. (NASDAQ:SIBN)

JPMorgan Chase & Co. grew its stake in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 57.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 280,453 shares of the company’s stock after acquiring an additional 102,660 shares during the quarter. JPMorgan Chase & Co.’s holdings in SI-BONE were worth $3,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC increased its holdings in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after buying an additional 1,198 shares during the period. Mainstream Capital Management LLC bought a new position in shares of SI-BONE in the fourth quarter worth about $53,000. R Squared Ltd acquired a new stake in shares of SI-BONE in the 4th quarter valued at approximately $73,000. KLP Kapitalforvaltning AS bought a new stake in shares of SI-BONE during the 4th quarter valued at approximately $97,000. Finally, Proficio Capital Partners LLC acquired a new position in SI-BONE during the 4th quarter worth approximately $155,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SIBN shares. Truist Financial restated a “buy” rating and set a $22.00 price target (up from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a research note on Tuesday, February 25th. Finally, Needham & Company LLC upped their price objective on shares of SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE presently has a consensus rating of “Buy” and a consensus target price of $24.40.

SI-BONE Stock Up 3.9 %

SIBN stock opened at $13.85 on Monday. SI-BONE, Inc. has a 1-year low of $11.70 and a 1-year high of $19.16. The stock has a market cap of $587.97 million, a price-to-earnings ratio of -15.05 and a beta of 1.02. The company’s 50 day moving average is $15.27 and its 200 day moving average is $14.64. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings data on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The business had revenue of $49.00 million for the quarter, compared to the consensus estimate of $48.87 million. Sell-side analysts predict that SI-BONE, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Michael A. Pisetsky sold 3,128 shares of SI-BONE stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $14.14, for a total transaction of $44,229.92. Following the sale, the senior vice president now owns 244,878 shares of the company’s stock, valued at approximately $3,462,574.92. This trade represents a 1.26 % 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, insider Anthony J. Recupero sold 3,311 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $14.15, for a total value of $46,850.65. Following the completion of the transaction, the insider now directly owns 284,555 shares in the company, valued at approximately $4,026,453.25. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,776 shares of company stock worth $96,644 in the last quarter. Corporate insiders own 3.90% 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.