UBS Group AG Increases Stock Position in SiBone $SIBN

UBS Group AG raised its holdings in SiBone (NASDAQ:SIBN) by 570.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,731 shares of the company’s stock after purchasing an additional 89,105 shares during the quarter. UBS Group AG’s holdings in SiBone were worth $2,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in SiBone by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock valued at $49,331,000 after purchasing an additional 11,566 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in SiBone by 17.1% in 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 purchasing an additional 175,000 shares in the last quarter. Calamos Advisors LLC boosted its holdings in SiBone by 14.6% in the 4th quarter. Calamos Advisors LLC now owns 11,484 shares of the company’s stock valued at $226,000 after purchasing an additional 1,465 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in SiBone by 14.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 103,074 shares of the company’s stock valued at $2,033,000 after purchasing an additional 13,046 shares in the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in SiBone by 95.3% in the 4th quarter. Palumbo Wealth Management LLC now owns 41,955 shares of the company’s stock valued at $827,000 after purchasing an additional 20,470 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SIBN shares. Truist Financial reaffirmed a “buy” rating and issued a $18.00 price objective (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. Wall Street Zen cut shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, TD Cowen lowered their price target on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Six investment 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, SiBone currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Insider Activity at SiBone

In related news, Director Mika Nishimura sold 4,100 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $13.83, for a total value of $56,703.00. Following the sale, the director directly owned 32,716 shares of the company’s stock, valued at approximately $452,462.28. This represents a 11.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 3,318 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total transaction of $42,702.66. Following the completion of the sale, the chief financial officer directly owned 263,148 shares in the company, valued at approximately $3,386,714.76. The trade was a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 29,572 shares of company stock valued at $418,831. Company insiders own 4.00% of the company’s stock.

SiBone Stock Performance

NASDAQ:SIBN opened at $14.41 on Friday. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20. 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 $639.08 million, a PE ratio of -36.95 and a beta of 0.67. The firm’s fifty day simple moving average is $13.51 and its 200-day simple moving average is $16.07.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $52.59 million for the quarter, compared to analysts’ expectations of $51.16 million. Analysts expect that SiBone will post -0.44 earnings per share for the current fiscal year.

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.