UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in SiBone $SIBN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of SiBone (NASDAQ:SIBN) by 31.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,736 shares of the company’s stock after selling 27,538 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of SiBone worth $975,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in SiBone by 102.9% in the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after acquiring an additional 887 shares during the last quarter. Bank of America Corp DE increased its stake in shares of SiBone by 8.7% during the 1st quarter. Bank of America Corp DE now owns 419,473 shares of the company’s stock worth $5,298,000 after purchasing an additional 33,688 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of SiBone in the 1st quarter worth approximately $159,000. Quantinno Capital Management LP raised its holdings in shares of SiBone by 58.2% in the 1st quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock worth $372,000 after purchasing an additional 10,848 shares during the period. Finally, First Light Asset Management LLC lifted its stake in SiBone by 6.4% in the first 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 during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SiBone Stock Performance

SiBone stock opened at $18.38 on Friday. The firm’s 50 day simple moving average is $18.28 and its 200 day simple moving average is $15.68. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $815.15 million, a PE ratio of -54.06 and a beta of 0.70. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.06. The firm had revenue of $56.01 million during the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. As a group, analysts expect that SiBone will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

SIBN has been the subject of several research reports. TD Cowen increased their price objective on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Truist Financial reiterated a “buy” rating and set a $23.00 price target (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Finally, UBS Group lifted their price objective on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SiBone has an average rating of “Moderate Buy” and a consensus price target of $24.17.

Insiders Place Their Bets

In other SiBone news, insider Anshul Maheshwari sold 11,636 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $20.11, for a total value of $233,999.96. Following the transaction, the insider directly owned 223,284 shares in the company, valued at $4,490,241.24. This represents a 4.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Pisetsky sold 3,725 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $18.63, for a total value of $69,396.75. Following the completion of the sale, the senior vice president directly owned 273,650 shares in the company, valued at approximately $5,098,099.50. The trade was a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 165,231 shares of company stock worth $3,193,690. 4.00% of the stock is currently owned by corporate insiders.

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.