SiBone $SIBN Stake Cut by Granahan Investment Management LLC

Granahan Investment Management LLC cut its position in shares of SiBone (NASDAQ:SIBN) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 880,155 shares of the company’s stock after selling 159,494 shares during the quarter. Granahan Investment Management LLC owned 2.03% of SiBone worth $17,357,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd acquired a new stake in SiBone in the fourth quarter worth $29,000. Royal Bank of Canada increased its position in SiBone by 98.5% in the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after buying an additional 736 shares during the period. Caitong International Asset Management Co. Ltd increased its position in SiBone by 64,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock worth $38,000 after buying an additional 1,941 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in SiBone in the fourth quarter worth $53,000. Finally, State of Wyoming acquired a new stake in SiBone in the second quarter worth $55,000. 98.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SIBN shares. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. TD Cowen dropped their target price on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Truist Financial reaffirmed 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 equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Insider Activity at SiBone

In other news, CFO Anshul Maheshwari sold 3,318 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $12.87, for a total transaction of $42,702.66. Following the transaction, the chief financial officer directly owned 263,148 shares of the company’s stock, valued at approximately $3,386,714.76. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy E. Davis, Jr. sold 3,780 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $14.47, for a total value of $54,696.60. Following the transaction, the director directly owned 69,222 shares in the company, valued at $1,001,642.34. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 36,327 shares of company stock valued at $520,834. 3.90% of the stock is owned by corporate insiders.

SiBone Price Performance

Shares of SIBN opened at $15.41 on Wednesday. The firm has a market capitalization of $683.43 million, a price-to-earnings ratio of -39.51 and a beta of 0.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. SiBone has a one year low of $11.48 and a one year high of $21.89. The stock’s fifty day moving average is $14.03 and its 200-day moving average is $15.75.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The company had revenue of $52.59 million for the quarter, compared to analyst estimates of $51.16 million. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%. Equities analysts anticipate that SiBone will post -0.44 EPS for the current 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.