Insider Selling: SiBone (NASDAQ:SIBN) Director Sells $49,490.00 in Stock

SiBone (NASDAQ:SIBN) Director Timothy Davis, Jr. sold 3,500 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $14.14, for a total value of $49,490.00. Following the transaction, the director owned 65,722 shares in the company, valued at approximately $929,309.08. This trade represents a 5.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SiBone Price Performance

Shares of SIBN opened at $13.92 on Thursday. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The stock has a market cap of $617.35 million, a P/E ratio of -35.69 and a beta of 0.70. The stock’s 50-day moving average price is $13.60 and its two-hundred day moving average price is $15.98.

SiBone (NASDAQ:SIBN) last issued its earnings results 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 return on equity of 9.56% and a negative net margin of 8.10%.The firm had revenue of $52.59 million for the quarter, compared to analysts’ expectations of $51.16 million. On average, equities analysts predict that SiBone will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On SiBone

Several institutional investors have recently modified their holdings of the business. First Light Asset Management LLC lifted its holdings in shares of SiBone by 6.4% during the 1st quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after purchasing an additional 320,286 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of SiBone by 22.5% during the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after purchasing an additional 521,683 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of SiBone by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock valued at $49,331,000 after purchasing an additional 11,566 shares in the last quarter. Granahan Investment Management LLC lifted its holdings in shares of SiBone by 97.6% during the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after purchasing an additional 858,942 shares in the last quarter. Finally, Nuveen LLC lifted its holdings in shares of SiBone by 5.1% during the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock valued at $28,041,000 after purchasing an additional 69,229 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SIBN shares. Truist Financial restated a “buy” rating and set a $18.00 target price (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. TD Cowen reduced their target price on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, SiBone currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

About SiBone

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.