SiBone $SIBN Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its stake in shares of SiBone (NASDAQ:SIBN) by 40.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 118,128 shares of the company’s stock after purchasing an additional 33,947 shares during the quarter. Squarepoint Ops LLC’s holdings in SiBone were worth $1,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. VELA Investment Management LLC grew its holdings in SiBone by 7.4% in the second quarter. VELA Investment Management LLC now owns 201,094 shares of the company’s stock valued at $3,282,000 after purchasing an additional 13,934 shares during the last quarter. Corient Private Wealth LP grew its holdings in SiBone by 119.6% in the second quarter. Corient Private Wealth LP now owns 43,946 shares of the company’s stock valued at $717,000 after purchasing an additional 23,938 shares during the period. California State Teachers Retirement System raised its position in shares of SiBone by 1,751.6% in the 2nd quarter. California State Teachers Retirement System now owns 726,942 shares of the company’s stock worth $11,864,000 after buying an additional 687,681 shares during the period. Versant Capital Management Inc raised its holdings in shares of SiBone by 102.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock worth $29,000 after purchasing an additional 887 shares during the period. Finally, Bank of America Corp DE raised its holdings in SiBone by 8.7% in the first quarter. Bank of America Corp DE now owns 419,473 shares of the company’s stock valued at $5,298,000 after buying an additional 33,688 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SiBone Stock Up 1.7%

Shares of SiBone stock opened at $18.70 on Tuesday. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The company has a market cap of $829.35 million, a P/E ratio of -55.00 and a beta of 0.70. 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 stock has a 50-day moving average price of $18.30 and a 200 day moving average price of $15.70.

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

Insider Buying and Selling at SiBone

In other SiBone news, 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 transaction of $69,396.75. Following the transaction, the senior vice president directly owned 273,650 shares of the company’s stock, valued at $5,098,099.50. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey W. Dunn sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $18.46, for a total value of $369,200.00. Following the transaction, the director owned 16,057 shares in the company, valued at approximately $296,412.22. This trade represents a 55.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 165,231 shares of company stock valued at $3,193,690. Corporate insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SIBN shares. TD Cowen raised their target price on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Truist Financial restated a “buy” rating and set a $23.00 price target (up from $21.00) on shares of SiBone in a research report on Tuesday, August 4th. Finally, UBS Group raised their target price on SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, SiBone currently has an average rating of “Moderate Buy” and an average price target of $24.17.

SiBone Profile

SI-BONE, Inc (NASDAQ: SIBN) is a medical device company focused on developing and commercializing solutions for disorders of the sacroiliac joint and pelvic region. Its products are designed to support minimally invasive procedures that stabilize the sacroiliac joint and address sacroiliac joint dysfunction, degeneration, and related conditions.

The company’s portfolio includes the iFuse Implant System, iFuse-3D implants, iFuse-TORQ implants, and the iFuse Bedrock Granite system for sacroiliac joint fusion and pelvic fixation.