Truist Financial Issues Positive Forecast for SiBone (NASDAQ:SIBN) Stock Price

SiBone (NASDAQ:SIBN) had its price objective raised by investment analysts at Truist Financial from $23.00 to $25.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 27.19% from the company’s previous close.

Other analysts have also issued research reports about the company. TD Cowen upped their price objective on SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Finally, UBS Group boosted their target price on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

SiBone Price Performance

SIBN traded down $0.03 on Wednesday, hitting $19.66. 117,848 shares of the company’s stock were exchanged, compared to its average volume of 609,011. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The stock has a market cap of $871.70 million, a price-to-earnings ratio of -57.71 and a beta of 0.66. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $18.89 and a 200-day moving average price of $16.43.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. The company had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. As a group, equities analysts anticipate that SiBone will post -0.40 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Anshul Maheshwari sold 11,636 shares of SiBone stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $20.11, for a total transaction of $233,999.96. Following the sale, the insider owned 223,284 shares in the company, valued at approximately $4,490,241.24. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laura Francis sold 51,884 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $19.46, for a total value of $1,009,662.64. Following the completion of the sale, the chief executive officer directly owned 321,386 shares of the company’s stock, valued at $6,254,171.56. The trade was a 13.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 186,962 shares of company stock valued at $3,606,097. 4.00% of the stock is currently owned by insiders.

Institutional Trading of SiBone

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc increased its stake in SiBone by 102.9% in the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after purchasing an additional 887 shares during the period. D.A. Davidson & CO. grew its holdings in shares of SiBone by 5.7% during the first quarter. D.A. Davidson & CO. now owns 36,882 shares of the company’s stock worth $466,000 after buying an additional 1,991 shares during the last quarter. Diversified Trust Co grew its holdings in shares of SiBone by 10.8% during the first quarter. Diversified Trust Co now owns 24,335 shares of the company’s stock worth $307,000 after buying an additional 2,375 shares during the last quarter. State of Wyoming increased its position in SiBone by 70.8% in the 1st quarter. State of Wyoming now owns 10,832 shares of the company’s stock valued at $137,000 after acquiring an additional 4,490 shares during the period. Finally, Quantinno Capital Management LP increased its position in SiBone by 58.2% in the 1st quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock valued at $372,000 after acquiring an additional 10,848 shares during the period. Hedge funds and other institutional investors own 98.11% of the company’s stock.

About SiBone

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company’s technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.