SiBone (NASDAQ:SIBN) Sees Large Growth in Short Interest

SiBone (NASDAQ:SIBN) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 4,632,479 shares, a growth of 19.3% from the March 31st total of 3,882,808 shares. Based on an average daily volume of 832,483 shares, the short-interest ratio is currently 5.6 days. Approximately 10.9% of the shares of the company are sold short.

SiBone Stock Performance

SiBone stock traded up $0.84 during midday trading on Friday, hitting $13.23. The stock had a trading volume of 504,909 shares, compared to its average volume of 603,632. The firm’s fifty day moving average is $13.70 and its two-hundred day moving average is $16.22. The company has a market capitalization of $585.43 million, a PE ratio of -30.12 and a beta of 0.77. SiBone has a 52-week low of $11.80 and a 52-week high of $21.89. The company has a current ratio of 8.55, a quick ratio of 7.21 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09. The company had revenue of $56.35 million during the quarter, compared to analyst estimates of $56.26 million. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. On average, research analysts forecast that SiBone will post -0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SIBN. Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Truist Financial reduced their target price on shares of SiBone from $24.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Finally, TD Cowen increased their target price on shares of SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Six equities 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Insider Transactions at SiBone

In other news, insider Anthony J. Recupero sold 21,049 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.40, for a total value of $324,154.60. Following the transaction, the insider owned 243,418 shares in the company, valued at $3,748,637.20. This represents a 7.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Laura Francis sold 93,475 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total transaction of $1,432,037.00. Following the completion of the transaction, the chief executive officer owned 544,369 shares in the company, valued at $8,339,733.08. This trade represents a 14.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 167,697 shares of company stock worth $2,551,086. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiBone

Institutional investors have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC grew its holdings in SiBone by 36.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company’s stock valued at $7,128,000 after buying an additional 129,723 shares in the last quarter. Impax Asset Management Group plc grew its holdings in SiBone by 48.2% during 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. Y Intercept Hong Kong Ltd grew its holdings in SiBone by 337.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,369 shares of the company’s stock valued at $1,227,000 after buying an additional 64,322 shares in the last quarter. First Light Asset Management LLC grew its holdings in SiBone by 9.5% during the 3rd quarter. First Light Asset Management LLC now owns 1,917,903 shares of the company’s stock valued at $28,232,000 after buying an additional 166,902 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in 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 buying an additional 521,683 shares in the last quarter. 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.