SiBone (NASDAQ:SIBN) Short Interest Up 25.5% in March

SiBone (NASDAQ:SIBN) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 3,603,947 shares, a growth of 25.5% from the February 26th total of 2,871,776 shares. Currently, 8.5% of the shares of the stock are short sold. Based on an average trading volume of 538,789 shares, the days-to-cover ratio is presently 6.7 days.

Insider Buying and Selling

In other news, Director Mika Nishimura sold 4,100 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $13.83, for a total transaction of $56,703.00. Following the transaction, the director directly owned 32,716 shares of the company’s stock, valued at $452,462.28. This represents a 11.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael A. Pisetsky sold 20,756 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total transaction of $318,604.60. Following the transaction, the senior vice president directly owned 285,974 shares in the company, valued at approximately $4,389,700.90. This trade represents a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 193,611 shares of company stock valued at $3,136,244 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of SiBone

Several institutional investors and hedge funds have recently made changes to their positions in SIBN. Invesco Ltd. increased its position in SiBone by 18.5% during the 4th quarter. Invesco Ltd. now owns 55,715 shares of the company’s stock worth $1,099,000 after purchasing an additional 8,706 shares in the last quarter. Susquehanna Portfolio Strategies LLC lifted its holdings in SiBone by 579.2% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 105,365 shares of the company’s stock valued at $2,078,000 after purchasing an additional 89,851 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of SiBone by 0.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 259,589 shares of the company’s stock worth $5,119,000 after purchasing an additional 1,557 shares during the last quarter. Man Group plc acquired a new stake in shares of SiBone during the 4th quarter worth about $965,000. Finally, Inspire Investing LLC purchased a new stake in shares of SiBone during the fourth quarter worth about $1,246,000. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SIBN has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Truist Financial reiterated a “buy” rating and set a $24.00 price target (up from $23.00) on shares of SiBone in a research report on Tuesday, February 24th. TD Cowen upped their price target on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Canaccord Genuity Group raised their price objective on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, Wall Street Zen raised SiBone from a “hold” rating to a “buy” rating in a report on Saturday. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SiBone presently has a consensus rating of “Moderate Buy” and an average price target of $24.67.

SiBone Price Performance

Shares of SIBN stock traded up $0.37 during trading hours on Tuesday, hitting $12.65. The company’s stock had a trading volume of 323,255 shares, compared to its average volume of 580,320. The company has a current ratio of 8.55, a quick ratio of 7.21 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $14.93 and a 200-day moving average of $16.45. SiBone has a twelve month low of $12.15 and a twelve month high of $21.89. The stock has a market cap of $558.75 million, a price-to-earnings ratio of -28.75 and a beta of 0.69.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%.The firm had revenue of $56.35 million during the quarter, compared to the consensus estimate of $56.26 million. As a group, equities research analysts anticipate that SiBone will post -0.78 EPS for the current year.

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.