SiBone (NASDAQ:SIBN) Insider Sells $224,784.56 in Stock

SiBone (NASDAQ:SIBN) insider Anshul Maheshwari sold 11,228 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $20.02, for a total transaction of $224,784.56. Following the transaction, the insider directly owned 234,920 shares of the company’s stock, valued at $4,703,098.40. The trade was a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Anshul Maheshwari also recently made the following trade(s):

• On Wednesday, August 19th, Anshul Maheshwari sold 5,747 shares of SiBone stock. The shares were sold at an average price of $19.55, for a total transaction of $112,353.85.
• On Monday, August 17th, Anshul Maheshwari sold 4,665 shares of SiBone stock. The stock was sold at an average price of $18.65, for a total transaction of $87,002.25.
• On Thursday, July 2nd, Anshul Maheshwari sold 3,317 shares of SiBone stock. The shares were sold at an average price of $16.77, for a total transaction of $55,626.09.

SiBone Price Performance

SIBN opened at $19.96 on Monday. The company has a market capitalization of $885.21 million, a PE ratio of -58.71 and a beta of 0.66. The firm has a 50-day simple moving average of $17.49 and a two-hundred day simple moving average of $15.32. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89.

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

Analysts Set New Price Targets

A number of research firms have issued reports on SIBN. Truist Financial reaffirmed a “buy” rating and issued a $23.00 price objective (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. TD Cowen increased their target price on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. UBS Group raised their target price on shares of SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.17.

Institutional Investors Weigh In On SiBone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC boosted its holdings in shares of SiBone by 162.4% in the 4th quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after purchasing an additional 3,115,001 shares during the period. Granahan Investment Management LLC raised its holdings in 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 buying an additional 858,942 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in SiBone by 113.3% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock valued at $14,228,000 after buying an additional 598,300 shares during the period. Cadian Capital Management LP lifted its position in SiBone by 96.8% in the fourth quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock worth $23,094,000 after buying an additional 576,100 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in SiBone by 74.7% in the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock worth $12,560,000 after buying an additional 364,897 shares during the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

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.