SiBone (NASDAQ:SIBN) Reaches New 52-Week High on Analyst Upgrade

SiBone (NASDAQ:SIBN) reached a new 52-week high during trading on Thursday after Truist Financial raised their price target on the stock from $21.00 to $23.00. Truist Financial currently has a buy rating on the stock. SiBone traded as high as $20.27 and last traded at $20.25, with a volume of 731079 shares changing hands. The stock had previously closed at $19.14.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group upped their price objective on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of SiBone in a research note on Monday. Needham & Company LLC lifted their price objective on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley increased their target price on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Five equities research analysts have rated the stock with a Buy rating and one has assigned 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 $25.00.

Insider Activity

In other SiBone news, Director Jeffrey W. Dunn sold 80,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $18.95, for a total transaction of $1,516,000.00. Following the sale, the director owned 10,307 shares in the company, valued at $195,317.65. This represents a 88.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael A. Pisetsky sold 3,328 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $17.41, for a total value of $57,940.48. Following the completion of the sale, the senior vice president directly owned 251,896 shares in the company, valued at $4,385,509.36. This represents a 1.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 147,128 shares of company stock worth $2,698,252 over the last three months. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

Several institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in SiBone in the third quarter valued at $39,000. State of Wyoming purchased a new stake in SiBone during the 2nd quarter worth about $55,000. Virtus Advisers LLC acquired a new position in shares of SiBone during the 1st quarter worth about $58,000. Canada Pension Plan Investment Board purchased a new position in shares of SiBone in the 2nd quarter valued at about $68,000. Finally, Quarry LP increased its holdings in shares of SiBone by 862.6% in the 3rd quarter. Quarry LP now owns 4,861 shares of the company’s stock valued at $72,000 after acquiring an additional 4,356 shares during the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

SiBone Stock Up 5.8%

The firm has a 50-day moving average price of $17.22 and a two-hundred day moving average price of $16.84. The firm has a market cap of $878.65 million, a price-to-earnings ratio of -39.71 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.62 and a current ratio of 7.97.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. The company had revenue of $48.66 million for the quarter, compared to analyst estimates of $46.67 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. On average, sell-side analysts forecast that SiBone will post -0.78 earnings per share for the current year.

About SiBone

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.