Magnetar Financial LLC Sells 9,417 Shares of SiBone $SIBN

Magnetar Financial LLC lessened its stake in shares of SiBone (NASDAQ:SIBN) by 47.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,244 shares of the company’s stock after selling 9,417 shares during the quarter. Magnetar Financial LLC’s holdings in SiBone were worth $193,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in SiBone by 11.1% during the 1st quarter. American Century Companies Inc. now owns 2,642,322 shares of the company’s stock valued at $37,072,000 after buying an additional 264,254 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of SiBone by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,444,159 shares of the company’s stock valued at $34,292,000 after acquiring an additional 35,349 shares during the last quarter. First Light Asset Management LLC boosted its holdings in shares of SiBone by 41.8% during the first quarter. First Light Asset Management LLC now owns 1,612,408 shares of the company’s stock worth $22,622,000 after purchasing an additional 475,426 shares during the period. Nuveen LLC purchased a new position in SiBone during the 1st quarter valued at about $18,605,000. Finally, Harbor Capital Advisors Inc. increased its holdings in SiBone by 7.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 573,705 shares of the company’s stock valued at $10,797,000 after purchasing an additional 40,993 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Anshul Maheshwari sold 3,460 shares of SiBone stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $17.43, for a total transaction of $60,307.80. Following the completion of the transaction, the chief financial officer directly owned 205,073 shares of the company’s stock, valued at $3,574,422.39. This trade represents a 1.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Laura Francis sold 11,341 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $17.43, for a total transaction of $197,673.63. Following the completion of the sale, the chief executive officer owned 408,363 shares in the company, valued at approximately $7,117,767.09. This trade represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 127,128 shares of company stock worth $2,311,652 over the last 90 days. Corporate insiders own 4.00% of the company’s stock.

SiBone Trading Down 1.0%

NASDAQ SIBN opened at $19.48 on Thursday. The firm has a market capitalization of $845.24 million, a PE ratio of -38.20 and a beta of 0.81. The stock’s 50 day moving average is $15.86 and its 200 day moving average is $16.82. SiBone has a twelve month low of $12.49 and a twelve month high of $20.05. The company has a quick ratio of 6.62, a current ratio of 7.97 and a debt-to-equity ratio of 0.21.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The business had revenue of $48.66 million during the quarter, compared to the consensus estimate of $46.67 million. SiBone had a negative return on equity of 12.86% and a negative net margin of 11.24%. SiBone has set its FY 2025 guidance at EPS. Research analysts forecast that SiBone will post -0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on SIBN shares. Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Cantor Fitzgerald set a $25.00 price target on SiBone and gave the stock an “overweight” rating in a research note on Monday, August 11th. Truist Financial cut their price target on shares of SiBone from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

SiBone Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.