Truist Financial Lowers SiBone (NASDAQ:SIBN) Price Target to $20.00

SiBone (NASDAQ:SIBN) had its price objective cut by equities research analysts at Truist Financial from $24.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 37.36% from the company’s current price.

A number of other equities analysts also recently issued reports on SIBN. Canaccord Genuity Group increased their target price on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Wall Street Zen upgraded SiBone from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Weiss Ratings restated a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. TD Cowen upped their price target on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Finally, Needham & Company LLC upped their price target on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Six research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

SiBone Stock Performance

SIBN traded up $0.13 on Wednesday, hitting $14.56. 102,816 shares of the company traded hands, compared to its average volume of 613,430. The company has a 50 day moving average of $14.19 and a 200-day moving average of $16.35. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $643.12 million, a PE ratio of -33.09 and a beta of 0.77. SiBone has a 12-month low of $12.15 and a 12-month high of $21.89.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.09. The firm had revenue of $56.35 million during the quarter, compared to the consensus estimate of $56.26 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. Sell-side analysts anticipate that SiBone will post -0.78 earnings per share for the current year.

Insider Buying and Selling at SiBone

In related news, CEO Laura Francis sold 93,475 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total value of $1,432,037.00. Following the transaction, the chief executive officer directly owned 544,369 shares of the company’s stock, valued at approximately $8,339,733.08. This trade represents a 14.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 3,318 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $12.87, for a total value of $42,702.66. Following the completion of the transaction, the chief financial officer directly owned 263,148 shares in the company, valued at $3,386,714.76. This trade represents a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 167,697 shares of company stock valued at $2,551,086. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd purchased a new position in shares of SiBone in the 4th quarter worth $29,000. Royal Bank of Canada raised its position in SiBone by 98.5% in the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after purchasing an additional 736 shares during the period. Caitong International Asset Management Co. Ltd raised its position in SiBone by 64,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock valued at $38,000 after purchasing an additional 1,941 shares during the period. State of Alaska Department of Revenue purchased a new position in SiBone in the third quarter valued at about $39,000. Finally, Kemnay Advisory Services Inc. purchased a new position in SiBone in the fourth quarter valued at about $53,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

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.