SiBone (NASDAQ:SIBN) Insider Sells 1,731 Shares of Company Stock

SiBone (NASDAQ:SIBN) insider Anshul Maheshwari sold 1,731 shares of SiBone stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $19.50, for a total transaction of $33,754.50. Following the completion of the sale, the insider owned 218,235 shares in the company, valued at $4,255,582.50. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anshul Maheshwari also recently made the following trade(s):

• On Friday, October 2nd, Anshul Maheshwari sold 3,318 shares of SiBone stock. The stock was sold at an average price of $18.18, for a total transaction of $60,321.24.
• On Monday, August 24th, Anshul Maheshwari sold 11,636 shares of SiBone stock. The stock was sold at an average price of $20.11, for a total transaction of $233,999.96.
• On Friday, August 21st, Anshul Maheshwari sold 11,228 shares of SiBone stock. The shares were sold at an average price of $20.02, for a total transaction of $224,784.56.
• On Wednesday, August 19th, Anshul Maheshwari sold 5,747 shares of SiBone stock. The shares were sold at an average price of $19.55, for a total transaction of $112,353.85.
• On Monday, August 17th, Anshul Maheshwari sold 4,665 shares of SiBone stock. The stock was sold at an average price of $18.65, for a total transaction of $87,002.25.

SiBone Stock Down 1.3%

Shares of SiBone stock traded down $0.26 during trading hours on Tuesday, reaching $19.55. 538,730 shares of the company’s stock were exchanged, compared to its average volume of 582,763. The stock has a market cap of $867.04 million, a P/E ratio of -57.50 and a beta of 0.66. The company has a 50 day moving average of $18.77 and a two-hundred day moving average of $16.20. The company has a current ratio of 9.15, a quick ratio of 7.55 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.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%.The business had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. On average, sell-side analysts forecast that SiBone will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On SiBone

Several large investors have recently modified their holdings of SIBN. First Light Asset Management LLC lifted its stake in shares of SiBone by 51.8% during the 2nd quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company’s stock worth $132,649,000 after buying an additional 2,774,795 shares during the last quarter. Granahan Investment Management LLC grew its stake in SiBone by 97.6% in the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after buying an additional 858,942 shares during the last quarter. Paradigm Capital Management Inc. NY raised its holdings in SiBone by 113.3% in 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 acquiring an additional 598,300 shares during the period. Dimensional Fund Advisors LP lifted its position in SiBone by 41.8% during the first quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company’s stock worth $7,816,000 after acquiring an additional 182,465 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in SiBone by 101.6% during the first quarter. Renaissance Technologies LLC now owns 472,619 shares of the company’s stock worth $5,969,000 after acquiring an additional 238,219 shares during the last quarter. 98.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. 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. Truist Financial reaffirmed a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Finally, UBS Group lifted their price target on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.17.

SiBone Company Profile

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company’s technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.