Insider Selling: SiBone (NASDAQ:SIBN) CEO Sells 93,475 Shares of Stock

SiBone (NASDAQ:SIBN) CEO Laura Francis sold 93,475 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total value of $1,432,037.00. Following the completion of the sale, the chief executive officer directly owned 544,369 shares in the company, valued at approximately $8,339,733.08. The trade was a 14.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

SiBone Trading Up 3.2%

Shares of SIBN traded up $0.49 during mid-day trading on Wednesday, hitting $15.74. The company had a trading volume of 569,275 shares, compared to its average volume of 551,190. SiBone has a 1-year low of $12.49 and a 1-year high of $21.89. The company has a quick ratio of 6.62, a current ratio of 7.97 and a debt-to-equity ratio of 0.21. The business’s 50-day simple moving average is $18.03 and its 200-day simple moving average is $16.86. The stock has a market cap of $682.97 million, a PE ratio of -30.86 and a beta of 0.69.

Analysts Set New Price Targets

SIBN has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. Needham & Company LLC upped their target price 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. 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. Canaccord Genuity Group boosted their price objective on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Finally, Truist Financial raised their target price on SiBone from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.33.

Institutional Investors Weigh In On SiBone

A number of institutional investors have recently made changes to their positions in SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after purchasing an additional 1,053 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SiBone during the first quarter worth $225,000. Goldman Sachs Group Inc. lifted its position in shares of SiBone by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock worth $5,328,000 after buying an additional 83,919 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of SiBone in the 1st quarter valued at about $1,818,000. Finally, Y Intercept Hong Kong Ltd grew its position in shares of SiBone by 65.1% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 19,047 shares of the company’s stock valued at $358,000 after buying an additional 7,512 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors.

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.