Renaissance Technologies LLC Increases Stake in SiBone $SIBN

Renaissance Technologies LLC increased its stake in SiBone (NASDAQ:SIBN) by 101.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 472,619 shares of the company’s stock after purchasing an additional 238,219 shares during the quarter. Renaissance Technologies LLC owned approximately 1.07% of SiBone worth $5,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SIBN. Paradigm Capital Management Inc. NY lifted its position in shares of SiBone by 113.3% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock valued at $14,228,000 after buying an additional 598,300 shares in the last quarter. Inceptionr LLC bought a new position in shares of SiBone in the first quarter worth approximately $156,000. Sei Investments Co. increased its stake in shares of SiBone by 67.3% in the first quarter. Sei Investments Co. now owns 284,769 shares of the company’s stock worth $3,597,000 after purchasing an additional 114,582 shares in the last quarter. State of Wyoming raised its position in shares of SiBone by 70.8% during the 1st quarter. State of Wyoming now owns 10,832 shares of the company’s stock valued at $137,000 after purchasing an additional 4,490 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of SiBone by 41.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company’s stock valued at $7,816,000 after buying an additional 182,465 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SIBN shares. Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. UBS Group upped their price target on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen boosted their target price on shares of SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Finally, Truist Financial reiterated a “buy” rating and issued a $23.00 price target (up from $21.00) on shares of SiBone in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.29.

SiBone Stock Down 2.2%

Shares of NASDAQ SIBN opened at $18.04 on Thursday. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The firm has a 50-day simple moving average of $16.45 and a two-hundred day simple moving average of $15.14. The company has a market cap of $800.06 million, a P/E ratio of -53.06 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.99 and a quick ratio of 8.34.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.06. The firm had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative return on equity of 8.31% and a negative net margin of 6.85%. Research analysts anticipate that SiBone will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey W. Dunn sold 20,000 shares of SiBone stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $18.46, for a total transaction of $369,200.00. Following the completion of the sale, the director owned 16,057 shares in the company, valued at $296,412.22. This trade represents a 55.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy E. Davis, Jr. sold 3,780 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $14.47, for a total transaction of $54,696.60. Following the completion of the transaction, the director owned 69,222 shares in the company, valued at $1,001,642.34. This represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,989 shares of company stock worth $910,429 over the last ninety days. 4.00% of the stock is owned by insiders.

SiBone 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.