Michael Pisetsky Sells 3,725 Shares of SiBone (NASDAQ:SIBN) Stock

SiBone (NASDAQ:SIBN) SVP Michael Pisetsky sold 3,725 shares of SiBone stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $18.63, for a total transaction of $69,396.75. Following the sale, the senior vice president owned 273,650 shares in the company, valued at approximately $5,098,099.50. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Trading Up 4.0%

SIBN opened at $19.91 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The company’s 50 day moving average price is $17.31 and its two-hundred day moving average price is $15.28. The firm has a market capitalization of $883.01 million, a price-to-earnings ratio of -58.56 and a beta of 0.66.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.06. The firm had revenue of $56.01 million during the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. As a group, research analysts predict that SiBone will post -0.4 earnings per share for the current year.

Institutional Trading of SiBone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC raised 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 worth $67,611,000 after buying an additional 320,286 shares during the last quarter. Vanguard Group Inc. grew its position in SiBone by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after purchasing an additional 11,566 shares in the last quarter. Granahan Investment Management LLC grew its position in SiBone by 97.6% in the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock worth $21,965,000 after purchasing an additional 858,942 shares in the last quarter. Nuveen LLC increased 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 lifted its position in shares of SiBone by 17.1% during the 4th quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock worth $23,664,000 after buying an additional 175,000 shares in the last quarter. 98.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on SIBN shares. Weiss Ratings lowered SiBone from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 5th. Truist Financial reiterated a “buy” rating and issued a $23.00 price target (up from $21.00) on shares of SiBone in a research report on Tuesday, August 4th. UBS Group increased their price target on SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, TD Cowen raised their price objective on SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, SiBone presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

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.