SiBone (NASDAQ:SIBN) SVP Sells $69,396.75 in Stock

SiBone (NASDAQ:SIBN) SVP Michael Pisetsky sold 3,725 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $18.63, for a total value of $69,396.75. Following the sale, the senior vice president owned 273,650 shares in the company, valued at approximately $5,098,099.50. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Stock Up 2.4%

Shares of SiBone stock traded up $0.45 on Tuesday, reaching $19.14. The company’s stock had a trading volume of 499,053 shares, compared to its average volume of 618,122. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89. The firm’s fifty day simple moving average is $17.15 and its two-hundred day simple moving average is $15.23. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $848.84 million, a price-to-earnings ratio of -56.29 and a beta of 0.66.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%.The firm had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. Equities analysts anticipate that SiBone will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On SiBone

Institutional investors have recently made changes to their positions in the business. First Light Asset Management LLC boosted its holdings in shares of SiBone by 162.4% in the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after buying an additional 3,115,001 shares during the last quarter. Granahan Investment Management LLC increased its holdings in SiBone by 97.6% during 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 last quarter. Paradigm Capital Management Inc. NY increased its holdings 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 during the last quarter. Cadian Capital Management LP increased its holdings in SiBone by 96.8% during 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 during the last quarter. Finally, Wellington Management Group LLP raised its position in SiBone by 74.7% in the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock worth $12,560,000 after acquiring an additional 364,897 shares during the period. Institutional investors own 98.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on SIBN shares. TD Cowen upped their target price on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. UBS Group boosted their price objective on shares of SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings cut shares of SiBone from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. Finally, Truist Financial reiterated a “buy” rating and set a $23.00 target price (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SiBone currently has an average rating of “Moderate Buy” and a consensus target price of $24.17.

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.