SiBone (NASDAQ:SIBN) CFO Anshul Maheshwari Sells 3,317 Shares of Stock

SiBone (NASDAQ:SIBN) CFO Anshul Maheshwari sold 3,317 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $16.77, for a total value of $55,626.09. Following the sale, the chief financial officer 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 filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Stock Up 3.3%

SIBN traded up $0.57 during trading on Monday, reaching $17.68. 414,032 shares of the stock traded hands, compared to its average volume of 641,629. The stock’s 50-day simple moving average is $14.70 and its two-hundred day simple moving average is $15.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.99 and a quick ratio of 8.34. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The stock has a market cap of $784.11 million, a price-to-earnings ratio of -45.33 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $52.59 million for the quarter, compared to analyst estimates of $51.16 million. As a group, equities research analysts expect that SiBone will post -0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SIBN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SiBone in a research report on Thursday. Truist Financial restated a “buy” rating and set a $18.00 price target (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. TD Cowen reduced their price objective on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.00.

Institutional Investors Weigh In On SiBone

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIBN. First Light Asset Management LLC grew its holdings in SiBone by 6.4% during the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after purchasing an additional 320,286 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of SiBone by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after buying an additional 11,566 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of SiBone by 97.6% during the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock worth $21,965,000 after buying an additional 858,942 shares during the period. Nuveen LLC grew its stake in SiBone by 5.1% in the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock valued at $28,041,000 after buying an additional 69,229 shares during the last quarter. Finally, Impax Asset Management Group plc grew its stake in SiBone by 17.1% in the 4th quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock valued at $23,664,000 after buying an additional 175,000 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.