SiBone (NASDAQ:SIBN) Price Target Raised to $25.00

SiBone (NASDAQ:SIBN) had its price objective lifted by Truist Financial from $23.00 to $25.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. TD Cowen boosted their price target on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. UBS Group upped their price target on shares of SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.50.

SiBone Trading Down 1.2%

Shares of NASDAQ SIBN opened at $19.68 on Wednesday. The company has a market cap of $872.81 million, a price-to-earnings ratio of -57.88 and a beta of 0.66. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $18.97 and its 200 day simple moving average is $16.55.

SiBone (NASDAQ:SIBN) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. The business had revenue of $56.01 million during the quarter, compared to analyst estimates of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. Equities research analysts expect that SiBone will post -0.40 EPS for the current year.

Insider Activity

In related news, Director Jeffrey W. Dunn sold 20,000 shares of SiBone stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $18.46, for a total transaction of $369,200.00. Following the sale, the director directly owned 16,057 shares in the company, valued at $296,412.22. The trade was a 55.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laura Francis sold 51,884 shares of SiBone stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $19.46, for a total transaction of $1,009,662.64. Following the sale, the chief executive officer owned 321,386 shares in the company, valued at approximately $6,254,171.56. This represents a 13.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 224,968 shares of company stock valued at $4,368,118. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On SiBone

Several large investors have recently bought and sold shares of the stock. First Light Asset Management LLC lifted its stake in shares of SiBone by 51.8% in the 2nd quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company’s stock worth $132,649,000 after acquiring an additional 2,774,795 shares during the period. Granahan Investment Management LLC increased its stake in shares of SiBone by 97.6% during the first quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after acquiring an additional 858,942 shares during the period. Paradigm Capital Management Inc. NY increased its stake in shares of SiBone by 113.3% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock valued at $14,228,000 after acquiring an additional 598,300 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of SiBone by 41.8% during the first quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company’s stock valued at $7,816,000 after acquiring an additional 182,465 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of SiBone by 101.6% during the first quarter. Renaissance Technologies LLC now owns 472,619 shares of the company’s stock valued at $5,969,000 after acquiring an additional 238,219 shares during the period. Institutional investors and hedge funds own 98.11% of the company’s stock.

About SiBone

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company’s technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.