SiBone (NASDAQ:SIBN) Stock: Insider Jeffrey Dunn Sells 20,000 Shares

SiBone (NASDAQ:SIBN) Director Jeffrey Dunn sold 20,000 shares of SiBone stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $18.47, for a total transaction of $369,400.00. Following the sale, the director directly owned 16,057 shares of the company’s stock, valued at $296,572.79. The trade was a 55.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

SiBone Stock Performance

Shares of SIBN traded up $1.73 during midday trading on Monday, reaching $19.81. 632,022 shares of the stock were exchanged, compared to its average volume of 612,975. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $18.68 and its 200 day simple moving average is $16.10. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The company has a market cap of $878.57 million, a P/E ratio of -58.26 and a beta of 0.66.

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

Institutional Investors Weigh In On SiBone

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of SiBone by 102.9% during 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 in the last quarter. D.A. Davidson & CO. grew its position in SiBone by 5.7% in the 1st quarter. D.A. Davidson & CO. now owns 36,882 shares of the company’s stock valued at $466,000 after purchasing an additional 1,991 shares during the period. Diversified Trust Co increased its stake in SiBone by 10.8% during the 1st quarter. Diversified Trust Co now owns 24,335 shares of the company’s stock valued at $307,000 after purchasing an additional 2,375 shares in the last quarter. State of Wyoming increased its stake in SiBone by 70.8% during the 1st quarter. State of Wyoming now owns 10,832 shares of the company’s stock valued at $137,000 after purchasing an additional 4,490 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in SiBone by 58.2% during the first quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock worth $372,000 after buying an additional 10,848 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SIBN. TD Cowen upped their target price on SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Truist Financial reaffirmed a “buy” rating and set a $23.00 target price (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Finally, UBS Group upped their target price on SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.17.

About SiBone

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company’s technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.