Insider Selling: SiBone (NASDAQ:SIBN) Director Sells $54,696.60 in Stock

SiBone (NASDAQ:SIBN) Director Timothy Davis, Jr. sold 3,780 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $14.47, for a total value of $54,696.60. Following the completion of the transaction, the director owned 69,222 shares of the company’s stock, valued at approximately $1,001,642.34. This represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SiBone Stock Down 0.6%

SIBN stock opened at $13.92 on Thursday. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $13.60 and a two-hundred day moving average price of $15.98. The company has a market cap of $617.35 million, a price-to-earnings ratio of -35.69 and a beta of 0.70. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The firm had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%. Analysts anticipate that SiBone will post -0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. TD Cowen decreased their price target on SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Wall Street Zen downgraded SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Truist Financial restated a “buy” rating and issued a $18.00 price target (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, SiBone currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Institutional Trading of SiBone

Hedge funds have recently made changes to their positions in the business. Hussman Strategic Advisors Inc. acquired a new stake in shares of SiBone in the fourth quarter valued at approximately $1,656,000. Impax Asset Management Group plc lifted its position in shares of SiBone by 17.1% in the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock valued at $23,664,000 after buying an additional 175,000 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of SiBone by 36.6% in the third quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company’s stock valued at $7,128,000 after buying an additional 129,723 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in SiBone by 337.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,369 shares of the company’s stock worth $1,227,000 after purchasing an additional 64,322 shares during the last quarter. Finally, First Light Asset Management LLC lifted its holdings in SiBone by 9.5% during the 3rd quarter. First Light Asset Management LLC now owns 1,917,903 shares of the company’s stock worth $28,232,000 after purchasing an additional 166,902 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

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.