Silk Road Medical (NASDAQ:SILK) Reaches New 52-Week Low After Insider Selling

Silk Road Medical, Inc (NASDAQ:SILK) shares reached a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $37.87 and last traded at $38.28, with a volume of 840 shares changing hands. The stock had previously closed at $39.37.

Specifically, CEO Erica J. Rogers sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 11th. The shares were sold at an average price of $41.88, for a total transaction of $418,800.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew S. Davis sold 4,805 shares of the business’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $60.96, for a total transaction of $292,912.80. The disclosure for this sale can be found here. Insiders have sold 62,900 shares of company stock worth $3,134,282 over the last quarter. Insiders own 7.70% of the company’s stock.

SILK has been the subject of a number of analyst reports. Piper Sandler lowered their price objective on Silk Road Medical from $55.00 to $48.00 in a research report on Monday, January 3rd. Argus lowered their price objective on Silk Road Medical from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, November 22nd. Citigroup raised Silk Road Medical from a “sell” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Friday, November 19th. Zacks Investment Research raised Silk Road Medical from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, SVB Leerink lowered their price objective on Silk Road Medical from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Wednesday, November 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $57.00.

The stock has a fifty day moving average of $43.82 and a 200-day moving average of $50.36. The company has a quick ratio of 6.62, a current ratio of 7.38 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -23.90 and a beta of 1.57.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings results on Tuesday, November 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.09). The business had revenue of $24.70 million during the quarter, compared to analyst estimates of $26.03 million. Silk Road Medical had a negative net margin of 54.99% and a negative return on equity of 52.81%. During the same period last year, the company earned ($0.31) earnings per share. On average, equities analysts forecast that Silk Road Medical, Inc will post -1.41 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in Silk Road Medical by 120.4% in the second quarter. US Bancorp DE now owns 930 shares of the company’s stock valued at $44,000 after purchasing an additional 508 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Silk Road Medical in the second quarter valued at approximately $49,000. Assetmark Inc. acquired a new stake in shares of Silk Road Medical in the third quarter valued at approximately $69,000. Great West Life Assurance Co. Can boosted its holdings in shares of Silk Road Medical by 34.4% in the second quarter. Great West Life Assurance Co. Can now owns 1,937 shares of the company’s stock valued at $93,000 after acquiring an additional 496 shares during the period. Finally, McAdam LLC acquired a new stake in shares of Silk Road Medical in the third quarter valued at approximately $226,000.

Silk Road Medical Company Profile (NASDAQ:SILK)

Silk Road Medical, Inc develops and manufactures medical devices to treat neurovascular diseases. Its products include ENROUTE transcarotid neuroprotection system, ENROUTE transcarotid stent system, and ENROUTE transcarotid peripheral access kit. The company was founded by Tony M. Chou and Michi Garrison on March 21, 2007 and is headquartered in Sunnyvale, CA.

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