First Light Asset Management LLC Has $67.61 Million Stock Holdings in SiBone $SIBN

First Light Asset Management LLC increased its position in shares of SiBone (NASDAQ:SIBN) by 6.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,353,190 shares of the company’s stock after purchasing an additional 320,286 shares during the period. SiBone makes up 6.1% of First Light Asset Management LLC’s portfolio, making the stock its 4th largest holding. First Light Asset Management LLC owned about 12.07% of SiBone worth $67,611,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SIBN. Royal Bank of Canada boosted its position in shares of SiBone by 98.5% during the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after buying an additional 736 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of SiBone by 0.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock worth $4,437,000 after buying an additional 997 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of SiBone by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after buying an additional 1,053 shares during the period. Larson Financial Group LLC lifted its stake in shares of SiBone by 42.3% during the 4th quarter. Larson Financial Group LLC now owns 3,569 shares of the company’s stock worth $70,000 after acquiring an additional 1,061 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in SiBone by 4.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock valued at $733,000 after acquiring an additional 1,459 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on SIBN shares. TD Cowen reduced their target price 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 shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Finally, Truist Financial boosted their price objective on shares of SiBone from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Insider Buying and Selling

In other news, Director Jeffrey W. Dunn sold 3,575 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $15.25, for a total value of $54,518.75. Following the completion of the sale, the director owned 16,057 shares in the company, valued at approximately $244,869.25. The trade was a 18.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Anshul Maheshwari sold 3,317 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $16.77, for a total transaction of $55,626.09. Following the completion of the sale, the chief financial officer directly owned 256,560 shares of the company’s stock, valued at $4,302,511.20. The trade was a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 36,326 shares of company stock valued at $545,661 over the last quarter. 4.00% of the stock is owned by company insiders.

SiBone Stock Performance

Shares of NASDAQ SIBN opened at $16.62 on Monday. 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 business has a fifty day simple moving average of $15.92 and a two-hundred day simple moving average of $15.20. The firm has a market cap of $737.10 million, a PE ratio of -42.62 and a beta of 0.67. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $52.59 million for 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 expect that SiBone will post -0.44 earnings per share for the current fiscal year.

SiBone 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.