Jeffrey Dunn Sells 20,000 Shares of SiBone (NASDAQ:SIBN) Stock

SiBone (NASDAQ:SIBN) Director Jeffrey Dunn sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $18.91, for a total value of $378,200.00. Following the sale, the director owned 16,057 shares in the company, valued at $303,637.87. The trade was a 55.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

SiBone Stock Performance

Shares of NASDAQ SIBN opened at $18.50 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.55 and a current ratio of 9.15. The stock has a 50 day moving average price of $18.12 and a 200 day moving average price of $15.57. The stock has a market capitalization of $820.46 million, a PE ratio of -54.41 and a beta of 0.70. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89.

SiBone (NASDAQ:SIBN) last posted 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 analyst estimates of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. Analysts predict that SiBone will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiBone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC increased its holdings in shares of SiBone by 6.4% in the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after purchasing an additional 320,286 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of SiBone by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after buying an additional 11,566 shares during the last quarter. Granahan Investment Management LLC boosted its holdings in shares of SiBone by 97.6% during the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock worth $21,965,000 after buying an additional 858,942 shares during the period. Nuveen LLC boosted its holdings in shares of SiBone by 5.1% during the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after buying an additional 69,229 shares during the period. Finally, Cadian Capital Management LP grew its stake in SiBone by 96.8% in the 4th quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock valued at $23,094,000 after buying an additional 576,100 shares during the last quarter. 98.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on SIBN. 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, August 4th. UBS Group boosted their price objective on shares of SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. Finally, TD Cowen raised their target price on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.17.

SiBone Company 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.