SiBone (NASDAQ:SIBN) Trading Down 6.5% – What’s Next?

SiBone (NASDAQ:SIBNGet Free Report)’s stock price was down 6.5% on Tuesday . The company traded as low as $16.63 and last traded at $16.6840. Approximately 81,501 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 639,239 shares. The stock had previously closed at $17.85.

Analyst Ratings Changes

Several brokerages recently issued reports on SIBN. Weiss Ratings reissued a “sell (e+)” rating on shares of SiBone in a report on Thursday, July 2nd. TD Cowen lowered their price target on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Truist Financial reaffirmed a “buy” rating and set a $18.00 price target (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

View Our Latest Research Report on SIBN

SiBone Stock Down 4.9%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The firm has a market cap of $752.75 million, a price-to-earnings ratio of -43.79 and a beta of 0.67. The business’s 50 day moving average price is $15.26 and its 200 day moving average price is $15.39.

SiBone (NASDAQ:SIBNGet Free Report) last posted its 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. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The firm had revenue of $52.59 million during the quarter, compared to analysts’ expectations of $51.16 million. On average, equities analysts forecast that SiBone will post -0.44 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Anshul Maheshwari sold 3,317 shares of SiBone stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $16.77, for a total value of $55,626.09. Following the completion of the transaction, the chief financial officer owned 256,560 shares in the company, valued at $4,302,511.20. The trade was a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Michael A. Pisetsky sold 3,726 shares of SiBone stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $14.63, for a total value of $54,511.38. Following the completion of the transaction, the senior vice president owned 280,509 shares of the company’s stock, valued at approximately $4,103,846.67. This represents a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 36,326 shares of company stock valued at $545,661. Insiders own 3.90% of the company’s stock.

Institutional Trading of SiBone

Institutional investors have recently bought and sold shares of the business. Hussman Strategic Advisors Inc. purchased a new position in shares of SiBone during the 4th quarter valued at approximately $1,656,000. UBS Group AG increased its holdings in SiBone by 570.2% in the 4th quarter. UBS Group AG now owns 104,731 shares of the company’s stock worth $2,065,000 after acquiring an additional 89,105 shares in the last quarter. Impax Asset Management Group plc raised its position 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 acquiring an additional 175,000 shares during the period. HighMark Wealth Management LLC raised its position 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 acquiring an additional 135,232 shares during the period. Finally, First Light Asset Management LLC raised its position in SiBone by 9.5% during the third quarter. First Light Asset Management LLC now owns 1,917,903 shares of the company’s stock worth $28,232,000 after acquiring an additional 166,902 shares during the period. 98.11% of the stock is owned by institutional investors and hedge funds.

SiBone Company Profile

(Get Free Report)

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.

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