Insider Selling: SiBone (NASDAQ:SIBN) CEO Sells 14,957 Shares of Stock

SiBone (NASDAQ:SIBN) CEO Laura Francis sold 14,957 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $14.71, for a total value of $220,017.47. Following the completion of the sale, the chief executive officer owned 503,444 shares of the company’s stock, valued at $7,405,661.24. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Stock Performance

SIBN traded down $0.02 during trading on Wednesday, hitting $14.82. The stock had a trading volume of 506,954 shares, compared to its average volume of 666,784. The company has a 50 day moving average price of $13.35 and a 200-day moving average price of $16.10. The firm has a market cap of $657.25 million, a price-to-earnings ratio of -38.00 and a beta of 0.67. SiBone has a one year low of $11.48 and a one year high of $21.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.99 and a quick ratio of 8.34.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business 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%. As a group, research analysts predict that SiBone will post -0.44 EPS for the current year.

Hedge Funds Weigh In On SiBone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIBN. First Light Asset Management LLC raised its holdings in shares of SiBone by 6.4% during the 1st quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock worth $67,611,000 after buying an additional 320,286 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of SiBone by 22.5% during the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock worth $41,777,000 after buying an additional 521,683 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of SiBone by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after buying an additional 11,566 shares in the last quarter. Granahan Investment Management LLC raised its holdings in shares of SiBone by 97.6% during the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock worth $21,965,000 after buying an additional 858,942 shares in the last quarter. Finally, Nuveen LLC raised its holdings in shares of SiBone by 5.1% during the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after buying an additional 69,229 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SIBN. Truist Financial reaffirmed a “buy” rating and issued a $18.00 price objective (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. TD Cowen dropped their price objective on SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.00.

SiBone Company 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.