Granahan Investment Management LLC Sells 224,678 Shares of SiBone $SIBN

Granahan Investment Management LLC reduced its stake in shares of SiBone (NASDAQ:SIBN) by 17.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,039,649 shares of the company’s stock after selling 224,678 shares during the period. Granahan Investment Management LLC’s holdings in SiBone were worth $15,304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in SiBone in the 3rd quarter valued at approximately $39,000. State of Wyoming acquired a new position in shares of SiBone during the 2nd quarter worth about $55,000. Canada Pension Plan Investment Board acquired a new position in shares of SiBone during the 2nd quarter worth about $68,000. Tower Research Capital LLC TRC grew its holdings in shares of SiBone by 198.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock valued at $92,000 after acquiring an additional 3,258 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in shares of SiBone in the 2nd quarter valued at about $137,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

Insider Buying and Selling

In other news, CEO Laura Francis sold 93,475 shares of SiBone stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total transaction of $1,432,037.00. Following the completion of the transaction, the chief executive officer directly owned 544,369 shares in the company, valued at approximately $8,339,733.08. The trade was a 14.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mika Nishimura sold 4,100 shares of SiBone stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $13.83, for a total value of $56,703.00. Following the transaction, the director owned 32,716 shares of the company’s stock, valued at $452,462.28. This represents a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 231,753 shares of company stock valued at $3,904,805. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Cowen upped their target price on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Morgan Stanley raised their price target on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Canaccord Genuity Group upped their price objective on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Needham & Company LLC increased their price objective on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $24.67.

SiBone Stock Down 5.6%

Shares of SIBN stock opened at $13.05 on Monday. SiBone has a 52-week low of $12.49 and a 52-week high of $21.89. The stock has a market cap of $576.42 million, a price-to-earnings ratio of -29.66 and a beta of 0.69. The firm’s 50-day moving average is $16.28 and its 200-day moving average is $16.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The business had revenue of $56.35 million during the quarter, compared to analysts’ expectations of $56.26 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. Sell-side analysts predict that SiBone will post -0.78 EPS for the current year.

SiBone 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.