Renaissance Technologies LLC Acquires 238,219 Shares of SiBone $SIBN

Renaissance Technologies LLC lifted its holdings in SiBone (NASDAQ:SIBN) by 101.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 472,619 shares of the company’s stock after acquiring an additional 238,219 shares during the quarter. Renaissance Technologies LLC’s holdings in SiBone were worth $5,969,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $343,000 after buying an additional 1,053 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in SiBone during the 1st quarter valued at $225,000. Goldman Sachs Group Inc. boosted its position in SiBone by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after acquiring an additional 83,919 shares in the last quarter. Jane Street Group LLC bought a new stake in SiBone during the 1st quarter valued at $1,818,000. Finally, Legal & General Group Plc increased its holdings in shares of SiBone by 16.1% in the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock valued at $798,000 after acquiring an additional 5,888 shares during the period. 98.11% of the stock is currently owned by institutional investors.

SiBone Stock Performance

Shares of SiBone stock opened at $18.04 on Thursday. The company has a 50 day moving average price of $16.45 and a 200 day moving average price of $15.14. The firm has a market capitalization of $800.06 million, a P/E ratio of -53.06 and a beta of 0.66. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89. 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 (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. The firm had revenue of $56.01 million for the quarter, compared to analyst estimates of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.31%. Sell-side analysts expect that SiBone will post -0.44 EPS for the current year.

Insider Buying and Selling at SiBone

In other news, CFO Anshul Maheshwari sold 3,317 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $16.77, for a total value of $55,626.09. Following the transaction, the chief financial officer directly owned 256,560 shares of the company’s stock, valued at approximately $4,302,511.20. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Michael A. Pisetsky sold 3,134 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $16.71, for a total value of $52,369.14. Following the completion of the transaction, the senior vice president owned 277,375 shares of the company’s stock, valued at approximately $4,634,936.25. The trade was a 1.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 55,989 shares of company stock worth $910,429. 4.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SIBN shares. UBS Group boosted their price target on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial reiterated a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of SiBone in a research note on Tuesday. TD Cowen boosted their target price on shares of SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SiBone presently has an average rating of “Moderate Buy” and an average target price of $24.29.

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.