SiBone (NASDAQ:SIBN) Sets New 1-Year Low – Time to Sell?

Shares of SiBone (NASDAQ:SIBN) reached a new 52-week low on Monday . The stock traded as low as $11.68 and last traded at $12.0650, with a volume of 414649 shares trading hands. The stock had previously closed at $12.27.

Analyst Ratings Changes

A number of equities analysts have commented on SIBN shares. TD Cowen boosted their target price on shares of SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Truist Financial dropped their price target on SiBone from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.00.

SiBone Price Performance

The stock has a 50 day moving average price of $13.56 and a two-hundred day moving average price of $16.19. The firm has a market cap of $515.89 million, a PE ratio of -26.50 and a beta of 0.67. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, May 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The firm had revenue of $52.59 million for the quarter, compared to analyst estimates of $51.16 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. As a group, equities analysts expect that SiBone will post -0.52 earnings per share for the current year.

Insider Transactions at SiBone

In other SiBone news, SVP Michael A. Pisetsky sold 20,756 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total value of $318,604.60. Following the completion of the transaction, the senior vice president directly owned 285,974 shares of the company’s stock, valued at approximately $4,389,700.90. The trade was a 6.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony J. Recupero sold 21,049 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.40, for a total value of $324,154.60. Following the completion of the transaction, the insider directly owned 243,418 shares of the company’s stock, valued at $3,748,637.20. The trade was a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 167,697 shares of company stock valued at $2,549,984 over the last quarter. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of SiBone by 41.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company’s stock worth $7,816,000 after buying an additional 182,465 shares during the period. D.A. Davidson & CO. raised its stake in SiBone by 5.7% in the 1st quarter. D.A. Davidson & CO. now owns 36,882 shares of the company’s stock valued at $466,000 after purchasing an additional 1,991 shares during the last quarter. Principal Financial Group Inc. raised its stake in SiBone by 22.6% in the 1st quarter. Principal Financial Group Inc. now owns 70,027 shares of the company’s stock valued at $884,000 after purchasing an additional 12,896 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in SiBone in the 1st quarter valued at $204,000. Finally, Peregrine Capital Management LLC raised its stake in SiBone by 13.0% in the 1st quarter. Peregrine Capital Management LLC now owns 428,061 shares of the company’s stock valued at $5,406,000 after purchasing an additional 49,270 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

SiBone Company 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.