SiBone (NASDAQ:SIBN) SVP Michael Pisetsky Sells 3,726 Shares

SiBone (NASDAQ:SIBN) SVP Michael Pisetsky sold 3,726 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $14.63, for a total value of $54,511.38. Following the transaction, the senior vice president owned 280,509 shares of the company’s stock, valued at approximately $4,103,846.67. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Trading Down 0.1%

SIBN opened at $14.82 on Thursday. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89. The business has a fifty day simple moving average of $13.36 and a 200-day simple moving average of $16.10. The firm has a market cap of $657.27 million, a P/E ratio of -38.00 and a beta of 0.67. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.07. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%.The business had revenue of $52.59 million during the quarter, compared to analyst estimates of $51.16 million. On average, equities analysts expect that SiBone will post -0.44 earnings per share for the current year.

Institutional Trading of SiBone

A number of hedge funds and other institutional investors have recently bought and sold shares of SIBN. First Light Asset Management LLC raised its stake in SiBone by 162.4% in the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock valued at $99,249,000 after buying an additional 3,115,001 shares in the last quarter. Granahan Investment Management LLC raised its stake 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 in the last quarter. Paradigm Capital Management Inc. NY raised its stake in SiBone by 113.3% in 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 raised its stake in SiBone by 96.8% in the fourth quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock valued at $23,094,000 after buying an additional 576,100 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in SiBone by 22.5% in the third quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after buying an additional 521,683 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen reduced their price objective on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Truist Financial reiterated a “buy” rating and issued a $18.00 price objective (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, SiBone presently has an average rating of “Moderate Buy” and an average price target of $23.00.

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.