SiBone (NASDAQ:SIBN) Trading Down 6.7% – Here’s What Happened

Shares of SiBone (NASDAQ:SIBN) traded down 6.7% on Monday . The company traded as low as $19.15 and last traded at $19.0650. 87,801 shares were traded during trading, a decline of 83% from the average session volume of 520,078 shares. The stock had previously closed at $20.44.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial boosted their price target on shares of SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Canaccord Genuity Group raised their target price on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Needham & Company LLC lifted their target price on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Morgan Stanley upped their price target on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SiBone has a consensus rating of “Moderate Buy” and an average target price of $25.00.

SiBone Stock Performance

The firm has a market cap of $775.40 million, a PE ratio of -35.04 and a beta of 0.69. The business has a 50-day simple moving average of $18.93 and a 200 day simple moving average of $17.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62.

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

Insider Buying and Selling

In related news, CEO Laura Francis sold 5,411 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $17.70, for a total transaction of $95,774.70. Following the completion of the transaction, the chief executive officer owned 351,319 shares in the company, valued at $6,218,346.30. The trade was a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Pisetsky sold 3,460 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $19.62, for a total value of $67,885.20. Following the completion of the sale, the senior vice president owned 228,436 shares of the company’s stock, valued at $4,481,914.32. The trade was a 1.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 187,886 shares of company stock worth $3,570,767 over the last three months. 4.00% of the stock is currently owned by company insiders.

Institutional Trading of SiBone

Several large investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its holdings in shares of SiBone by 22.5% during the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after purchasing an additional 521,683 shares in the last quarter. Wellington Management Group LLP raised its position in shares of SiBone by 74.7% in the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock valued at $12,560,000 after buying an additional 364,897 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in shares of SiBone during the 2nd quarter worth approximately $6,664,000. Impax Asset Management Group plc grew its holdings in SiBone by 48.2% in the 3rd quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock valued at $15,088,000 after buying an additional 333,249 shares in the last quarter. Finally, Next Century Growth Investors LLC acquired a new stake in SiBone during the second quarter worth about $4,824,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

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.