Insider Selling: SiBone (NASDAQ:SIBN) CFO Sells $55,626.09 in Stock

SiBone (NASDAQ:SIBN) CFO Anshul Maheshwari sold 3,317 shares of SiBone stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $16.77, for a total value of $55,626.09. Following the sale, the chief financial officer directly owned 256,560 shares in the company, valued at $4,302,511.20. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Price Performance

Shares of NASDAQ:SIBN traded up $0.57 during trading on Monday, reaching $17.68. The company had a trading volume of 414,032 shares, compared to its average volume of 641,629. The firm’s fifty day moving average is $14.70 and its 200 day moving average is $15.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The firm has a market capitalization of $784.11 million, a PE ratio of -45.33 and a beta of 0.67. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The company had revenue of $52.59 million during the quarter, compared to analyst estimates of $51.16 million. On average, equities analysts forecast that SiBone will post -0.44 EPS for the current year.

Institutional Investors Weigh In On SiBone

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in SiBone by 98.5% during the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after acquiring an additional 736 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of SiBone by 102.9% during the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock worth $29,000 after purchasing an additional 887 shares during the period. Assenagon Asset Management S.A. grew its position in SiBone by 0.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock valued at $4,437,000 after purchasing an additional 997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in SiBone by 42.3% in the 4th 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 period. 98.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SIBN has been the subject of several analyst reports. TD Cowen reduced their target price on SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of SiBone in a report on Thursday. Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Truist Financial reissued a “buy” rating and issued a $18.00 target price (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

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.