Insider Selling: SiBone (NASDAQ:SIBN) Insider Sells 5,747 Shares

SiBone (NASDAQ:SIBN) insider Anshul Maheshwari sold 5,747 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $19.55, for a total value of $112,353.85. Following the completion of the transaction, the insider directly owned 246,148 shares of the company’s stock, valued at $4,812,193.40. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Anshul Maheshwari also recently made the following trade(s):

• On Friday, August 21st, Anshul Maheshwari sold 11,228 shares of SiBone stock. The stock was sold at an average price of $20.02, for a total value of $224,784.56.
• On Monday, August 17th, Anshul Maheshwari sold 4,665 shares of SiBone stock. The shares were sold at an average price of $18.65, for a total value of $87,002.25.
• On Thursday, July 2nd, Anshul Maheshwari sold 3,317 shares of SiBone stock. The shares were sold at an average price of $16.77, for a total value of $55,626.09.

SiBone Price Performance

Shares of NASDAQ:SIBN traded up $0.48 during midday trading on Friday, hitting $19.96. 1,290,316 shares of the stock were exchanged, compared to its average volume of 620,561. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $17.40 and a 200-day moving average price of $15.30. The stock has a market cap of $885.21 million, a P/E ratio of -58.71 and a beta of 0.66.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates 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, research analysts forecast that SiBone will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On SiBone

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC grew its holdings 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 purchasing an additional 3,115,001 shares during the period. Granahan Investment Management LLC raised its holdings in 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 buying an additional 858,942 shares during the period. Paradigm Capital Management Inc. NY lifted its position 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 valued at $14,228,000 after buying an additional 598,300 shares in the last quarter. Cadian Capital Management LP increased its position in shares of SiBone by 96.8% in the fourth quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock worth $23,094,000 after acquiring an additional 576,100 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of SiBone by 74.7% in the 3rd quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock valued at $12,560,000 after acquiring an additional 364,897 shares during the period. Institutional investors and hedge funds own 98.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group increased their target price on SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. TD Cowen increased their price objective on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and set a $23.00 price target (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SiBone currently has an average rating of “Moderate Buy” and an average target price of $24.17.

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.