SiBone (NASDAQ:SIBN) Director Sells $369,200.00 in Stock

SiBone (NASDAQ:SIBN) Director Jeffrey Dunn sold 20,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $18.46, for a total value of $369,200.00. Following the completion of the sale, the director owned 16,057 shares of the company’s stock, valued at $296,412.22. This represents a 55.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SiBone Trading Down 2.2%

SIBN traded down $0.40 during midday trading on Wednesday, reaching $18.04. 623,880 shares of the company were exchanged, compared to its average volume of 633,672. The stock has a market capitalization of $800.07 million, a P/E ratio of -46.26 and a beta of 0.66. SiBone has a one year low of $11.48 and a one year high of $21.89. The stock’s 50-day simple moving average is $16.38 and its 200 day simple moving average is $15.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. The business had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.31%. As a group, analysts forecast that SiBone will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Hussman Strategic Advisors Inc. acquired a new stake in shares of SiBone in the 4th quarter valued at approximately $1,656,000. UBS Group AG increased its holdings in SiBone by 570.2% during the fourth quarter. UBS Group AG now owns 104,731 shares of the company’s stock worth $2,065,000 after buying an additional 89,105 shares during the last quarter. Impax Asset Management Group plc increased its holdings in SiBone by 17.1% during the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock worth $23,664,000 after buying an additional 175,000 shares during the last quarter. HighMark Wealth Management LLC increased its holdings in SiBone by 549.7% during the fourth quarter. HighMark Wealth Management LLC now owns 159,832 shares of the company’s stock worth $3,152,000 after buying an additional 135,232 shares during the last quarter. Finally, Nano Cap New Millennium Growth Fund L P bought a new stake in SiBone during the fourth quarter worth $838,000. 98.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on SIBN shares. Truist Financial reaffirmed a “buy” rating and set a $23.00 price objective (up from $21.00) on shares of SiBone in a research note on Tuesday. TD Cowen boosted their target price on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group increased their price target on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings upgraded SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, SiBone presently has an average rating of “Moderate Buy” and a consensus target price of $24.29.

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.