Bank of New York Mellon Corp Purchases 12,158 Shares of SI-BONE, Inc. (NASDAQ:SIBN)

Bank of New York Mellon Corp lifted its position in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,106 shares of the company’s stock after purchasing an additional 12,158 shares during the quarter. Bank of New York Mellon Corp owned about 0.34% of SI-BONE worth $1,837,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in SI-BONE by 12.9% in the fourth quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock valued at $123,000 after acquiring an additional 673 shares during the period. Charles Schwab Investment Management Inc. increased its stake in SI-BONE by 9.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 297,582 shares of the company’s stock worth $6,246,000 after acquiring an additional 24,549 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of SI-BONE by 83.3% in the 4th quarter. BNP Paribas Financial Markets now owns 117,815 shares of the company’s stock worth $2,473,000 after buying an additional 53,537 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in SI-BONE during the fourth quarter valued at approximately $412,000. Finally, Trexquant Investment LP raised its holdings in SI-BONE by 9.9% during the 4th quarter. Trexquant Investment LP now owns 74,021 shares of the company’s stock valued at $1,554,000 after buying an additional 6,678 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SIBN. Needham & Company LLC dropped their target price on SI-BONE from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Truist Financial dropped their price objective on SI-BONE from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Morgan Stanley decreased their target price on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Six 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 an average target price of $23.00.

SI-BONE Trading Up 1.0 %

NASDAQ SIBN opened at $15.68 on Wednesday. SI-BONE, Inc. has a 12-month low of $11.76 and a 12-month high of $23.12. The company has a fifty day simple moving average of $15.34 and a two-hundred day simple moving average of $14.91. The company has a current ratio of 9.17, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22. The stock has a market cap of $653.70 million, a P/E ratio of -14.40 and a beta of 1.22.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.04. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. The company had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.95 million. During the same quarter in the prior year, the company earned ($0.30) EPS. On average, analysts forecast that SI-BONE, Inc. will post -0.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Laura Francis sold 9,967 shares of SI-BONE stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total value of $137,943.28. Following the completion of the transaction, the chief executive officer now owns 492,923 shares in the company, valued at approximately $6,822,054.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other SI-BONE news, CEO Laura Francis sold 9,967 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the completion of the transaction, the chief executive officer now owns 492,923 shares of the company’s stock, valued at $6,822,054.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony J. Recupero sold 3,309 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total transaction of $42,752.28. Following the completion of the transaction, the insider now directly owns 243,629 shares in the company, valued at $3,147,686.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,023 shares of company stock worth $347,749. Corporate insiders own 5.40% of the company’s stock.

About SI-BONE

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.