SiBone (NASDAQ:SIBN) Director Sells $425,600.00 in Stock

SiBone (NASDAQ:SIBN) Director Jeffrey Dunn sold 20,000 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $21.28, for a total value of $425,600.00. Following the sale, the director owned 80,115 shares in the company, valued at $1,704,847.20. The trade was a 19.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

SiBone Trading Down 2.5%

SIBN stock opened at $17.44 on Thursday. The company has a quick ratio of 6.62, a current ratio of 7.97 and a debt-to-equity ratio of 0.21. SiBone has a twelve month low of $12.49 and a twelve month high of $21.89. The stock has a market capitalization of $756.74 million, a price-to-earnings ratio of -34.20 and a beta of 0.69. The firm’s fifty day simple moving average is $19.08 and its two-hundred day simple moving average is $17.11.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, November 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. The firm had revenue of $48.66 million during the quarter, compared to analyst estimates of $46.67 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. As a group, analysts anticipate that SiBone will post -0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On SiBone

Several institutional investors have recently made changes to their positions in SIBN. Harbor Capital Advisors Inc. raised its position in shares of SiBone by 7.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 573,705 shares of the company’s stock worth $10,797,000 after acquiring an additional 40,993 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in SiBone in the third quarter valued at about $3,297,000. Palumbo Wealth Management LLC purchased a new position in SiBone in the second quarter valued at about $577,000. Goldman Sachs Group Inc. raised its holdings in SiBone by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock worth $5,328,000 after purchasing an additional 83,919 shares in the last quarter. Finally, Divisadero Street Capital Management LP lifted its position in shares of SiBone by 17.8% during the second quarter. Divisadero Street Capital Management LP now owns 339,791 shares of the company’s stock valued at $6,395,000 after buying an additional 51,363 shares during the last quarter. Hedge funds and other 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.