Insider Selling: SiBone (NASDAQ:SIBN) CEO Sells $1,009,662.64 in Stock

SiBone (NASDAQ:SIBN) CEO Laura Francis sold 51,884 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $19.46, for a total value of $1,009,662.64. Following the completion of the sale, the chief executive officer directly owned 321,386 shares in the company, valued at $6,254,171.56. This represents a 13.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Laura Francis also recently made the following trade(s):

• On Friday, August 21st, Laura Francis sold 3,923 shares of SiBone stock. The stock was sold at an average price of $20.02, for a total value of $78,538.46.

SiBone Price Performance

SIBN stock opened at $19.96 on Monday. The company’s 50 day moving average price is $17.49 and its 200 day moving average price is $15.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.55 and a current ratio of 9.15. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The firm has a market capitalization of $885.21 million, a price-to-earnings ratio of -58.71 and a beta of 0.66.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.06. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. The firm had revenue of $56.01 million for the quarter, compared to analysts’ expectations of $55.34 million. On average, equities research analysts anticipate that SiBone will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SIBN. First Light Asset Management LLC raised its stake in shares of SiBone by 162.4% during the 4th quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after buying an additional 3,115,001 shares in the last quarter. Granahan Investment Management LLC lifted its stake in shares of SiBone by 97.6% in the first quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after purchasing an additional 858,942 shares during the period. Paradigm Capital Management Inc. NY boosted its holdings in SiBone by 113.3% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock worth $14,228,000 after buying an additional 598,300 shares in the last quarter. Cadian Capital Management LP boosted its holdings in SiBone by 96.8% during the fourth quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock worth $23,094,000 after buying an additional 576,100 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in SiBone by 74.7% during the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock worth $12,560,000 after buying an additional 364,897 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SIBN. TD Cowen increased their target price on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. UBS Group upped their price objective on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $23.00 price objective (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.17.

SiBone Company Profile

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.