SiBone (NASDAQ:SIBN) Sets New 12-Month High – What’s Next?

SiBone (NASDAQ:SIBN) shares hit a new 52-week high during trading on Wednesday. The stock traded as high as $21.96 and last traded at $21.8150, with a volume of 110,209 shares traded. The stock had previously closed at $21.44.

Analyst Ratings Changes

SIBN has been the subject of a number of research reports. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Truist Financial lifted their price target on shares of SiBone from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. UBS Group upped their price objective on shares of SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, TD Cowen boosted their price objective on shares of SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

SiBone Stock Down 2.3%

The stock’s 50 day moving average is $19.38 and its 200 day moving average is $16.42. The firm has a market cap of $970.89 million, a price-to-earnings ratio of -64.41 and a beta of 0.66. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. The firm had revenue of $56.01 million during the quarter, compared to analyst estimates of $55.34 million. Analysts forecast that SiBone will post -0.40 EPS for the current year.

Insider Buying and Selling at SiBone

In other news, CEO Laura Francis sold 51,884 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $19.46, for a total transaction of $1,009,662.64. Following the completion of the transaction, the chief executive officer directly owned 321,386 shares of the company’s stock, valued at $6,254,171.56. This represents a 13.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anshul Maheshwari sold 11,636 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $20.11, for a total value of $233,999.96. Following the transaction, the insider directly owned 223,284 shares in the company, valued at $4,490,241.24. The trade was a 4.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 224,968 shares of company stock valued at $4,368,118. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. boosted its holdings in shares of SiBone by 2.8% in the 3rd quarter. D.A. Davidson & CO. now owns 37,814 shares of the company’s stock worth $711,000 after buying an additional 1,038 shares during the last quarter. First Light Asset Management LLC raised its position in SiBone by 51.8% during the second quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company’s stock valued at $132,649,000 after purchasing an additional 2,774,795 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of SiBone by 40.3% during the 2nd quarter. Squarepoint Ops LLC now owns 118,128 shares of the company’s stock valued at $1,928,000 after purchasing an additional 33,947 shares during the last quarter. VELA Investment Management LLC grew its stake in shares of SiBone by 7.4% during the second quarter. VELA Investment Management LLC now owns 201,094 shares of the company’s stock valued at $3,282,000 after buying an additional 13,934 shares during the last quarter. Finally, Corient Private Wealth LP lifted its stake in shares of SiBone by 119.6% in the 2nd quarter. Corient Private Wealth LP now owns 43,946 shares of the company’s stock valued at $717,000 after acquiring an additional 23,938 shares during the last quarter. 98.11% of the stock is owned by institutional investors.

About SiBone

SI-BONE, Inc (NASDAQ: SIBN) is a medical device company focused on diagnosing and treating disorders of the sacroiliac joint, which connects the spine to the pelvis. The company develops minimally invasive surgical solutions intended to stabilize the sacroiliac joint and address sacroiliac joint dysfunction and related conditions.

Its product portfolio is centered on the iFuse Implant System, a family of triangular implants designed to be placed across the sacroiliac joint. SI-BONE also offers products such as iFuse-TORQ, a threaded implant system, and iFuse Bedrock Granite, which is designed for sacroiliac joint fusion and pelvic fixation as part of certain spinal procedures.