SiBone $SIBN Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC reduced its position in shares of SiBone (NASDAQ:SIBN) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 880,155 shares of the company’s stock after selling 159,494 shares during the period. Granahan Investment Management LLC’s holdings in SiBone were worth $17,357,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after acquiring an additional 1,053 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in SiBone during the first quarter worth about $225,000. Goldman Sachs Group Inc. grew its holdings in SiBone by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock worth $5,328,000 after acquiring an additional 83,919 shares during the period. Jane Street Group LLC acquired a new position in SiBone during the first quarter worth about $1,818,000. Finally, Legal & General Group Plc grew its holdings in SiBone by 16.1% during the second quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock worth $798,000 after acquiring an additional 5,888 shares during the period. 98.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SiBone news, Director Timothy E. Davis, Jr. sold 3,780 shares of the firm’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 sale, the director directly owned 69,222 shares in the company, valued at approximately $1,001,642.34. This trade represents a 5.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey W. Dunn sold 3,575 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $15.25, for a total value of $54,518.75. Following the sale, the director owned 16,057 shares of the company’s stock, valued at $244,869.25. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 36,327 shares of company stock worth $520,834 over the last three months. Company insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

SIBN has been the topic of a number of research analyst reports. 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. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Truist Financial reiterated a “buy” rating and issued a $18.00 price target (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.00.

SiBone Trading Up 1.9%

NASDAQ:SIBN opened at $15.41 on Wednesday. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89. 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 stock has a fifty day simple moving average of $14.03 and a 200 day simple moving average of $15.75.

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

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.