SiBone (NASDAQ:SIBN) Reaches New 12-Month Low – Here’s Why

SiBone (NASDAQ:SIBN)’s stock price hit a new 52-week low on Monday . The company traded as low as $11.68 and last traded at $12.0650, with a volume of 414649 shares traded. The stock had previously closed at $12.27.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Truist Financial reiterated a “buy” rating and issued a $18.00 price objective (down from $20.00) on shares of SiBone in a report on Tuesday. Finally, TD Cowen decreased their price objective on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.00.

SiBone Stock Up 1.9%

The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. The stock has a market capitalization of $626.44 million, a P/E ratio of -36.31 and a beta of 0.67. The stock’s fifty day moving average is $13.37 and its two-hundred day moving average is $16.13.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.07. The firm had revenue of $52.59 million for the quarter, compared to analyst estimates of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.63%. As a group, research analysts predict that SiBone will post -0.52 earnings per share for the current fiscal year.

Insider Transactions at SiBone

In other SiBone news, Director Mika Nishimura sold 4,100 shares of SiBone stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $13.83, for a total value of $56,703.00. Following the transaction, the director owned 32,716 shares in the company, valued at approximately $452,462.28. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Anshul Maheshwari sold 21,528 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.37, for a total transaction of $330,885.36. Following the completion of the transaction, the chief financial officer directly owned 266,466 shares of the company’s stock, valued at $4,095,582.42. This represents a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 167,697 shares of company stock valued at $2,549,984 in the last 90 days. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiBone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIBN. First Light Asset Management LLC boosted its stake in shares of SiBone by 162.4% during the 4th quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock valued at $99,249,000 after buying an additional 3,115,001 shares during the period. American Century Companies Inc. boosted its stake 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 buying an additional 521,683 shares during the period. Vanguard Group Inc. boosted its stake in shares of SiBone by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock valued at $49,331,000 after buying an additional 11,566 shares during the period. Nuveen LLC boosted its stake in shares of SiBone by 5.1% during the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock valued at $28,041,000 after buying an additional 69,229 shares during the period. Finally, Impax Asset Management Group plc boosted its stake in shares of SiBone by 17.1% during the 4th quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock valued at $23,664,000 after buying an additional 175,000 shares during the period. Institutional investors and hedge funds 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.