Jeffrey Dunn Sells 3,575 Shares of SiBone (NASDAQ:SIBN) Stock

SiBone (NASDAQ:SIBN) Director Jeffrey Dunn sold 3,575 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $15.25, for a total transaction of $54,518.75. Following the sale, the director owned 16,057 shares of the company’s stock, valued at $244,869.25. This trade represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Stock Performance

Shares of NASDAQ:SIBN traded down $0.15 during midday trading on Monday, hitting $14.97. The company’s stock had a trading volume of 350,701 shares, compared to its average volume of 650,203. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The stock’s 50 day simple moving average is $13.68 and its 200 day simple moving average is $15.94. The stock has a market capitalization of $663.90 million, a price-to-earnings ratio of -38.38 and a beta of 0.70. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89.

SiBone (NASDAQ:SIBN) last announced its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. The firm 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%. As a group, research analysts anticipate that SiBone will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SIBN. Hussman Strategic Advisors Inc. acquired a new position in SiBone in the fourth quarter worth about $1,656,000. First Eagle Investment Management LLC raised its position in SiBone by 36.6% in the third quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company’s stock worth $7,128,000 after purchasing an additional 129,723 shares in the last quarter. Impax Asset Management Group plc raised its position in SiBone by 17.1% in the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock worth $23,664,000 after purchasing an additional 175,000 shares in the last quarter. First Light Asset Management LLC raised its position in SiBone by 9.5% in the third quarter. First Light Asset Management LLC now owns 1,917,903 shares of the company’s stock worth $28,232,000 after purchasing an additional 166,902 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its position in SiBone by 549.7% in the fourth quarter. HighMark Wealth Management LLC now owns 159,832 shares of the company’s stock worth $3,152,000 after purchasing an additional 135,232 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. TD Cowen lowered their target price on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Truist Financial reaffirmed a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SiBone currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

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.