Granite Investment Partners LLC acquired a new stake in SI-Bone Inc (NASDAQ:SIBN) in the 1st quarter, HoldingsChannel reports. The fund acquired 45,151 shares of the company’s stock, valued at approximately $851,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SIBN. Orbimed Advisors LLC acquired a new position in SI-Bone in the fourth quarter valued at $20,584,000. RTW Investments LP acquired a new position in SI-Bone in the fourth quarter valued at $16,802,000. BlackRock Inc. acquired a new position in SI-Bone in the fourth quarter valued at $15,835,000. Pura Vida Investments LLC acquired a new position in SI-Bone in the fourth quarter valued at $4,485,000. Finally, Foresite Capital Management IV LLC acquired a new position in SI-Bone in the fourth quarter valued at $4,295,000. Institutional investors own 38.89% of the company’s stock.
In other news, Director Mark A. Reiley sold 10,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $16.95, for a total value of $169,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Laura Francis sold 6,486 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.97, for a total transaction of $103,581.42. The disclosure for this sale can be found here. Insiders sold 32,659 shares of company stock valued at $536,411 over the last ninety days.
Shares of NASDAQ:SIBN opened at $17.50 on Thursday. SI-Bone Inc has a one year low of $14.08 and a one year high of $23.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 13.06 and a quick ratio of 12.70.
SI-Bone (NASDAQ:SIBN) last announced its earnings results on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.13). The firm had revenue of $14.99 million for the quarter. As a group, equities research analysts predict that SI-Bone Inc will post -1.45 EPS for the current fiscal year.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of SI-Bone from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. ValuEngine downgraded shares of SI-Bone from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. SI-Bone presently has an average rating of “Buy” and a consensus price target of $24.75.
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SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.
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