Hussman Strategic Advisors Inc. Takes $1.66 Million Position in SiBone $SIBN

Hussman Strategic Advisors Inc. purchased a new stake in SiBone (NASDAQ:SIBN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 84,000 shares of the company’s stock, valued at approximately $1,656,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Assenagon Asset Management S.A. boosted its holdings in shares of SiBone by 0.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock valued at $4,437,000 after buying an additional 997 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of SiBone by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after buying an additional 1,053 shares during the period. Calamos Advisors LLC boosted its holdings in shares of SiBone by 14.6% in the 4th quarter. Calamos Advisors LLC now owns 11,484 shares of the company’s stock valued at $226,000 after buying an additional 1,465 shares during the period. Tudor Investment Corp ET AL boosted its holdings in shares of SiBone by 0.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock valued at $3,798,000 after buying an additional 1,968 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of SiBone by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 29,018 shares of the company’s stock valued at $427,000 after buying an additional 2,228 shares during the period. 98.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SiBone

In other SiBone news, CFO Anshul Maheshwari sold 3,318 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total transaction of $42,702.66. Following the sale, the chief financial officer directly owned 263,148 shares in the company, valued at approximately $3,386,714.76. The trade was a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Pisetsky sold 20,756 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total transaction of $318,604.60. Following the sale, the senior vice president owned 285,974 shares in the company, valued at $4,389,700.90. This trade represents a 6.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 167,697 shares of company stock worth $2,551,086 in the last three months. Insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

SIBN has been the subject of a number of analyst reports. TD Cowen boosted their target price on shares of SiBone from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Truist Financial reduced their target price on shares of SiBone from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SiBone currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

SiBone Trading Up 6.6%

SiBone stock opened at $13.21 on Friday. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $13.70 and a two-hundred day moving average price of $16.23. The firm has a market capitalization of $584.41 million, a price-to-earnings ratio of -30.02 and a beta of 0.67. SiBone has a 52-week low of $11.80 and a 52-week high of $21.89.

SiBone (NASDAQ:SIBN) last posted its earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. The firm had revenue of $56.35 million during the quarter, compared to analyst estimates of $56.26 million. Sell-side analysts expect that SiBone will post -0.52 earnings per share 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.