SiBone (NASDAQ:SIBN) Receives $24.33 Average PT from Analysts

SiBone (NASDAQ:SIBN) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.3333.

A number of research analysts have issued reports on the company. Morgan Stanley lifted their price objective on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Truist Financial boosted their target price on SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Needham & Company LLC increased their price target on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, TD Cowen raised shares of SiBone to a “strong-buy” rating in a research note on Tuesday, January 27th.

Insider Buying and Selling

In other SiBone news, Director Jeffrey W. Dunn sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $21.28, for a total value of $425,600.00. Following the completion of the transaction, the director owned 80,115 shares of the company’s stock, valued at approximately $1,704,847.20. This trade represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Pisetsky sold 20,756 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total transaction of $318,604.60. Following the completion of the sale, the senior vice president directly owned 285,974 shares in the company, valued at $4,389,700.90. This trade represents a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 248,153 shares of company stock valued at $4,244,702 over the last three months. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On SiBone

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in shares of SiBone by 98.5% in the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after buying an additional 736 shares during the period. Assenagon Asset Management S.A. increased its position in SiBone by 0.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock valued at $4,437,000 after acquiring an additional 997 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SiBone by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after buying an additional 1,053 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of SiBone by 42.3% in the 4th quarter. Larson Financial Group LLC now owns 3,569 shares of the company’s stock valued at $70,000 after buying an additional 1,061 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of SiBone by 4.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock valued at $733,000 after purchasing an additional 1,459 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SiBone Stock Down 1.7%

Shares of NASDAQ:SIBN opened at $15.47 on Friday. The stock’s 50-day moving average price is $17.90 and its 200-day moving average price is $16.85. SiBone has a 12-month low of $12.49 and a 12-month high of $21.89. The company has a current ratio of 7.97, a quick ratio of 6.62 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $671.24 million, a P/E ratio of -30.33 and a beta of 0.69.

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.