Deerfield Management Company L.P. Series C Purchases Shares of 11,691 SI-BONE, Inc. (NASDAQ:SIBN)

Deerfield Management Company L.P. Series C acquired a new stake in SI-BONE, Inc. (NASDAQ:SIBN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,691 shares of the company’s stock, valued at approximately $151,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SIBN. AQR Capital Management LLC increased its holdings in SI-BONE by 54.7% during the 2nd quarter. AQR Capital Management LLC now owns 31,864 shares of the company’s stock valued at $412,000 after purchasing an additional 11,270 shares during the period. Squarepoint Ops LLC purchased a new position in shares of SI-BONE during the second quarter valued at approximately $252,000. Marshall Wace LLP increased its stake in shares of SI-BONE by 49.9% during the second quarter. Marshall Wace LLP now owns 208,686 shares of the company’s stock valued at $2,698,000 after buying an additional 69,425 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in shares of SI-BONE by 24.7% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock valued at $17,448,000 after acquiring an additional 267,100 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in SI-BONE by 98.6% in the second quarter. Sei Investments Co. now owns 58,174 shares of the company’s stock valued at $752,000 after acquiring an additional 28,880 shares in the last quarter. 98.11% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Anthony J. Recupero sold 3,309 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.92, for a total value of $42,752.28. Following the transaction, the insider now owns 243,629 shares in the company, valued at approximately $3,147,686.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Anthony J. Recupero sold 3,309 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $12.92, for a total value of $42,752.28. Following the completion of the transaction, the insider now directly owns 243,629 shares in the company, valued at approximately $3,147,686.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony J. Recupero sold 2,087 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the transaction, the insider now directly owns 236,717 shares in the company, valued at $3,354,279.89. The disclosure for this sale can be found here. Insiders sold 25,023 shares of company stock worth $347,749 over the last three months. 5.40% of the stock is currently owned by corporate insiders.

SI-BONE Price Performance

Shares of SIBN opened at $13.38 on Friday. SI-BONE, Inc. has a fifty-two week low of $11.76 and a fifty-two week high of $22.56. The firm’s 50-day simple moving average is $15.20 and its two-hundred day simple moving average is $14.76. The stock has a market cap of $557.81 million, a PE ratio of -12.28 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 9.17.

SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.04. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. The company had revenue of $39.97 million during the quarter, compared to analyst estimates of $38.95 million. During the same quarter last year, the company earned ($0.30) EPS. Analysts anticipate that SI-BONE, Inc. will post -0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on SIBN. Truist Financial dropped their target price on shares of SI-BONE from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC cut their price objective on SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a research report 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, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $23.00.

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.