Granahan Investment Management LLC Boosts Holdings in SiBone $SIBN

Granahan Investment Management LLC boosted its holdings in shares of SiBone (NASDAQ:SIBN) by 97.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,739,097 shares of the company’s stock after acquiring an additional 858,942 shares during the period. SiBone comprises 1.1% of Granahan Investment Management LLC’s portfolio, making the stock its 26th largest holding. Granahan Investment Management LLC owned approximately 3.92% of SiBone worth $21,965,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of SiBone by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after purchasing an additional 1,053 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in SiBone in the 1st quarter valued at approximately $225,000. Goldman Sachs Group Inc. lifted its stake in SiBone by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after buying an additional 83,919 shares in the last quarter. Jane Street Group LLC acquired a new stake in SiBone during the 1st quarter valued at $1,818,000. Finally, Legal & General Group Plc grew its holdings in SiBone by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock valued at $798,000 after buying an additional 5,888 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Insider Transactions at SiBone

In other SiBone news, CEO Laura Francis sold 14,957 shares of SiBone stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $14.71, for a total value of $220,017.47. Following the completion of the sale, the chief executive officer owned 503,444 shares in the company, valued at $7,405,661.24. The trade was a 2.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy E. Davis, Jr. sold 3,500 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $14.14, for a total transaction of $49,490.00. Following the transaction, the director directly owned 65,722 shares of the company’s stock, valued at approximately $929,309.08. This represents a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,326 shares of company stock worth $545,661 in the last quarter. 4.00% of the stock is currently owned by corporate insiders.

SiBone Trading Up 0.9%

Shares of SiBone stock opened at $16.62 on Friday. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The business’s fifty day moving average is $15.92 and its two-hundred day moving average is $15.24. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20. The firm has a market cap of $737.08 million, a PE ratio of -42.62 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The business 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%. Analysts anticipate that SiBone will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SIBN shares. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. TD Cowen decreased their price objective on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Truist Financial lifted their price objective on SiBone from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SiBone presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

About SiBone

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.