First Light Asset Management LLC lifted its stake in SiBone (NASDAQ:SIBN – Free Report) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,353,190 shares of the company’s stock after acquiring an additional 320,286 shares during the period. SiBone accounts for 6.1% of First Light Asset Management LLC’s portfolio, making the stock its 4th largest position. First Light Asset Management LLC owned 0.12% of SiBone worth $67,611,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in SIBN. Royal Bank of Canada boosted its position in SiBone by 98.5% during 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in SiBone by 0.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock worth $4,437,000 after purchasing an additional 997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in SiBone by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after purchasing an additional 1,053 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of SiBone by 42.3% during the fourth 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 last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of SiBone by 4.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock valued at $733,000 after buying an additional 1,459 shares during the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Laura Francis sold 14,957 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 503,444 shares of the company’s stock, valued at $7,405,661.24. This trade represents a 2.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy E. Davis, Jr. sold 3,780 shares of SiBone stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $14.47, for a total transaction of $54,696.60. Following the completion of the sale, the director owned 69,222 shares of the company’s stock, valued at $1,001,642.34. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 36,326 shares of company stock valued at $545,661. 4.00% of the stock is owned by company insiders.
SiBone Stock Performance
SiBone (NASDAQ:SIBN – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping 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%. On average, research analysts predict that SiBone will post -0.44 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on SIBN shares. 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. Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Truist Financial increased their target price on shares of SiBone from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen downgraded shares of 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.50.
Get Our Latest Stock Analysis on SiBone
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.
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