Analysts Set SiBone (NASDAQ:SIBN) Price Target at $23.00

SiBone (NASDAQ:SIBN) has received an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $23.00.

SIBN has been the subject of a number of recent research reports. Wall Street Zen downgraded SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Truist Financial restated a “buy” rating and set a $18.00 price target (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Finally, TD Cowen cut their price target on SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th.

SiBone Trading Down 2.2%

SiBone stock opened at $14.10 on Tuesday. The business has a 50-day simple moving average of $13.53 and a two-hundred day simple moving average of $16.05. The company has a market cap of $625.34 million, a P/E ratio of -36.15 and a beta of 0.67. SiBone has a 52-week low of $11.48 and a 52-week high of $21.89. 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 (NASDAQ:SIBN) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%. Analysts predict that SiBone will post -0.44 EPS for the current year.

Insider Buying and Selling

In related news, SVP Michael A. Pisetsky sold 3,726 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $14.63, for a total transaction of $54,511.38. Following the completion of the transaction, the senior vice president directly owned 280,509 shares in the company, valued at approximately $4,103,846.67. The trade was a 1.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mika Nishimura sold 4,100 shares of the business’s 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 of the company’s stock, valued at approximately $452,462.28. This trade represents a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 29,572 shares of company stock valued at $418,831. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of SiBone by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after acquiring an additional 1,053 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of SiBone during the 1st quarter valued at approximately $225,000. Goldman Sachs Group Inc. grew its stake in shares of SiBone by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after acquiring an additional 83,919 shares during the period. Jane Street Group LLC bought a new position in shares of SiBone during the 1st quarter valued at approximately $1,818,000. Finally, Legal & General Group Plc grew its stake in shares of SiBone by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock valued at $798,000 after acquiring an additional 5,888 shares during the period. 98.11% of the stock is currently owned by institutional investors.

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.