Divisadero Street Capital Management LP Trims Holdings in SiBone $SIBN

Divisadero Street Capital Management LP lowered its holdings in shares of SiBone (NASDAQ:SIBN) by 27.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,463 shares of the company’s stock after selling 92,328 shares during the period. Divisadero Street Capital Management LP’s holdings in SiBone were worth $3,643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in SiBone in the third quarter valued at $39,000. State of Wyoming acquired a new stake in shares of SiBone during the second quarter worth about $55,000. Canada Pension Plan Investment Board purchased a new position in shares of SiBone during the second quarter worth about $68,000. Tower Research Capital LLC TRC grew its holdings in shares of SiBone by 198.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock worth $92,000 after buying an additional 3,258 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in SiBone in the 2nd quarter valued at about $137,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Michael A. Pisetsky sold 20,756 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total value of $318,604.60. Following the sale, the senior vice president directly owned 285,974 shares in the company, valued at $4,389,700.90. The trade was a 6.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Dunn sold 20,000 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $21.28, for a total transaction of $425,600.00. Following the completion of the sale, the director directly owned 80,115 shares in the company, valued at approximately $1,704,847.20. The trade was a 19.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 231,753 shares of company stock valued at $3,904,805. Company insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on SIBN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. Canaccord Genuity Group boosted their target price on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Truist Financial restated a “buy” rating and set a $24.00 price target (up from $23.00) on shares of SiBone in a research note on Tuesday, February 24th. 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. Finally, TD Cowen lifted their price objective on shares of SiBone from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

SiBone Price Performance

Shares of NASDAQ:SIBN opened at $13.05 on Monday. The firm has a market capitalization of $576.42 million, a price-to-earnings ratio of -29.66 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. The business’s 50 day simple moving average is $16.28 and its 200-day simple moving average is $16.73. SiBone has a 12 month low of $12.49 and a 12 month high of $21.89.

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

SiBone 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.