SiBone (NASDAQ:SIBN) Director Sells $54,696.60 in Stock

by · The Markets Daily

SiBone (NASDAQ:SIBN – Get Free Report) Director Timothy Davis, Jr. sold 3,780 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $14.47, for a total transaction of $54,696.60. Following the transaction, the director owned 69,222 shares of the company’s stock, valued at $1,001,642.34. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SiBone Price Performance

Shares of SIBN traded down $0.23 during mid-day trading on Monday, reaching $13.87. 619,291 shares of the stock traded hands, compared to its average volume of 658,591. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20. The company has a market cap of $615.13 million, a price-to-earnings ratio of -35.56 and a beta of 0.70. The firm has a fifty day moving average price of $13.53 and a 200 day moving average price of $16.06.

SiBone (NASDAQ:SIBN – Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The company had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. As a group, equities research analysts predict that SiBone will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On SiBone

Several hedge funds and other institutional investors have recently modified their holdings of SIBN. Bank of America Corp DE increased its position in shares of SiBone by 8.7% during 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. ADAR1 Capital Management LLC purchased a new position in shares of SiBone during the first quarter valued at about $159,000. Quantinno Capital Management LP increased its position in shares of SiBone by 58.2% during the first quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock valued at $372,000 after buying an additional 10,848 shares during the period. First Light Asset Management LLC increased its position in shares of SiBone by 6.4% during the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after buying an additional 320,286 shares during the period. Finally, Granahan Investment Management LLC increased its position in shares of 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 period. 98.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on SIBN shares. Truist Financial reaffirmed a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. Wall Street Zen downgraded shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, TD Cowen lowered their price target on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Check Out Our Latest Research Report on SIBN

About SiBone

(Get Free Report)

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.

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