Assenagon Asset Management S.A. Reduces Holdings in Silk Road Medical, Inc (NASDAQ:SILK)

Assenagon Asset Management S.A. decreased its position in Silk Road Medical, Inc (NASDAQ:SILK) by 80.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,513 shares of the company’s stock after selling 35,230 shares during the period. Assenagon Asset Management S.A.’s holdings in Silk Road Medical were worth $230,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SILK. Armistice Capital LLC purchased a new position in shares of Silk Road Medical during the 4th quarter worth approximately $21,693,000. Goldman Sachs Group Inc. boosted its position in shares of Silk Road Medical by 707.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after purchasing an additional 1,762,048 shares during the period. Rubric Capital Management LP purchased a new position in shares of Silk Road Medical during the 4th quarter worth approximately $17,520,000. Kennedy Capital Management LLC purchased a new position in shares of Silk Road Medical during the 1st quarter worth approximately $18,981,000. Finally, Rings Capital Management LLC purchased a new position in shares of Silk Road Medical during the 4th quarter worth approximately $10,552,000.

Insider Activity

In related news, EVP Kevin M. Klemz sold 2,268 shares of Silk Road Medical stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.10, for a total transaction of $61,462.80. Following the sale, the executive vice president now directly owns 162,926 shares in the company, valued at approximately $4,415,294.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.90% of the company’s stock.

Silk Road Medical Price Performance

Shares of SILK opened at $27.24 on Friday. Silk Road Medical, Inc has a twelve month low of $6.08 and a twelve month high of $27.34. The firm’s fifty day simple moving average is $26.93 and its 200-day simple moving average is $21.65. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -19.88 and a beta of 1.52. The company has a current ratio of 7.63, a quick ratio of 6.69 and a debt-to-equity ratio of 0.49.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). Silk Road Medical had a negative net margin of 29.53% and a negative return on equity of 37.30%. The firm had revenue of $51.20 million during the quarter, compared to analyst estimates of $49.74 million. During the same quarter in the previous year, the business posted ($0.35) earnings per share. Silk Road Medical’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts forecast that Silk Road Medical, Inc will post -1.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Lake Street Capital reaffirmed a “hold” rating and set a $27.50 price objective (down previously from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on shares of Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Stifel Nicolaus reiterated a “hold” rating and set a $27.50 target price (up from $23.00) on shares of Silk Road Medical in a report on Wednesday, July 17th. Piper Sandler increased their target price on shares of Silk Road Medical from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Silk Road Medical has a consensus rating of “Hold” and a consensus price target of $21.50.

Silk Road Medical Profile

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.