OP Asset Management Ltd Invests $391,000 in SiBone $SIBN

OP Asset Management Ltd bought a new stake in SiBone (NASDAQ:SIBN) in the first quarter, Holdings Channel reports. The institutional investor bought 30,982 shares of the company’s stock, valued at approximately $391,000.

Other institutional investors and hedge funds have also modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new stake in SiBone during the 4th quarter worth approximately $29,000. Royal Bank of Canada raised its position in SiBone by 98.5% in the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after purchasing an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in SiBone by 64,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock valued at $38,000 after purchasing an additional 1,941 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in SiBone in the fourth quarter worth $53,000. Finally, State of Wyoming acquired a new position in SiBone in the second quarter worth $55,000. 98.11% of the stock is owned by institutional investors and hedge funds.

SiBone Stock Performance

SIBN stock opened at $16.32 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.99 and a quick ratio of 8.34. The company has a 50 day moving average price of $14.52 and a 200 day moving average price of $15.54. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The stock has a market capitalization of $723.79 million, a PE ratio of -41.85 and a beta of 0.70.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.07. The firm had revenue of $52.59 million for the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%. Analysts forecast that SiBone will post -0.44 EPS for the current year.

Analyst Upgrades and Downgrades

SIBN has been the subject of a number of research reports. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. TD Cowen reduced their price target on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Truist Financial reissued a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Insiders Place Their Bets

In other SiBone news, CFO Anshul Maheshwari sold 3,318 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $12.87, for a total transaction of $42,702.66. Following the completion of the sale, the chief financial officer directly owned 263,148 shares of the company’s stock, valued at approximately $3,386,714.76. The trade was a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Pisetsky sold 3,726 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $14.63, for a total transaction of $54,511.38. Following the transaction, the senior vice president owned 280,509 shares in the company, valued at approximately $4,103,846.67. The trade was a 1.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 34,528 shares of company stock valued at $497,537 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

About SiBone

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.