SiBone (NASDAQ:SIBN) Trading Down 6.7% on Insider Selling

SiBone (NASDAQ:SIBN)’s stock price fell 6.7% on Monday after an insider sold shares in the company. The stock traded as low as $19.15 and last traded at $19.0650. 87,801 shares were traded during mid-day trading, a decline of 83% from the average session volume of 520,078 shares. The stock had previously closed at $20.44.

Specifically, Director Jeffrey W. Dunn sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $21.28, for a total transaction of $425,600.00. Following the sale, the director directly owned 80,115 shares in the company, valued at approximately $1,704,847.20. This trade represents a 19.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 5,229 shares of SiBone stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $19.64, for a total value of $102,697.56. Following the sale, the chief financial officer directly owned 180,002 shares in the company, valued at approximately $3,535,239.28. The trade was a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In related news, SVP Michael A. Pisetsky sold 3,460 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $19.62, for a total value of $67,885.20. Following the completion of the transaction, the senior vice president owned 228,436 shares of the company’s stock, valued at approximately $4,481,914.32. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial upped their target price on SiBone from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Morgan Stanley lifted their price target on shares of SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Needham & Company LLC increased their price objective on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Finally, Canaccord Genuity Group boosted their target price on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

SiBone Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62. The company has a fifty day moving average price of $19.08 and a 200 day moving average price of $17.11. The company has a market capitalization of $756.72 million, a P/E ratio of -34.20 and a beta of 0.69.

SiBone (NASDAQ:SIBN) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The business had revenue of $48.66 million during the quarter, compared to analyst estimates of $46.67 million. SiBone had a negative return on equity of 12.86% and a negative net margin of 11.24%. On average, sell-side analysts forecast that SiBone will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of SiBone in the fourth quarter valued at approximately $392,000. Assenagon Asset Management S.A. increased its position in SiBone by 0.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock valued at $4,437,000 after acquiring an additional 997 shares during the period. Tudor Investment Corp ET AL raised its stake in SiBone by 0.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock valued at $3,798,000 after acquiring an additional 1,968 shares in the last quarter. PharVision Advisers LLC acquired a new position in SiBone during the 3rd quarter worth $431,000. Finally, XTX Topco Ltd boosted its position in SiBone by 70.9% during the 3rd quarter. XTX Topco Ltd now owns 33,870 shares of the company’s stock worth $499,000 after acquiring an additional 14,053 shares during the period. Institutional investors own 98.11% of the company’s stock.

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.