Insider Selling: SiBone (NASDAQ:SIBN) Insider Sells $33,754.50 in Stock

SiBone (NASDAQ:SIBN) insider Anshul Maheshwari sold 1,731 shares of SiBone stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $19.50, for a total value of $33,754.50. Following the transaction, the insider owned 218,235 shares of the company’s stock, valued at $4,255,582.50. This trade represents a 0.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anshul Maheshwari also recently made the following trade(s):

• On Friday, October 2nd, Anshul Maheshwari sold 3,318 shares of SiBone stock. The stock was sold at an average price of $18.18, for a total value of $60,321.24.
• On Monday, August 24th, Anshul Maheshwari sold 11,636 shares of SiBone stock. The shares were sold at an average price of $20.11, for a total value of $233,999.96.
• On Friday, August 21st, Anshul Maheshwari sold 11,228 shares of SiBone stock. The shares were sold at an average price of $20.02, for a total value of $224,784.56.
• On Wednesday, August 19th, Anshul Maheshwari sold 5,747 shares of SiBone stock. The stock was sold at an average price of $19.55, for a total value of $112,353.85.
• On Monday, August 17th, Anshul Maheshwari sold 4,665 shares of SiBone stock. The stock was sold at an average price of $18.65, for a total value of $87,002.25.

SiBone Trading Down 1.3%

NASDAQ SIBN opened at $18.86 on Friday. 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 business has a fifty day simple moving average of $18.80 and a 200 day simple moving average of $16.28. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The firm has a market capitalization of $836.42 million, a P/E ratio of -55.47 and a beta of 0.66.

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

Hedge Funds Weigh In On SiBone

A number of hedge funds and other institutional investors have recently made changes to their positions in SIBN. First Light Asset Management LLC boosted its stake in SiBone by 51.8% in the second quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company’s stock valued at $132,649,000 after acquiring an additional 2,774,795 shares during the last quarter. Granahan Investment Management LLC increased its stake 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 purchasing an additional 858,942 shares during the last quarter. Paradigm Capital Management Inc. NY raised its holdings in shares of SiBone by 113.3% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock worth $14,228,000 after purchasing an additional 598,300 shares during the period. Renaissance Technologies LLC raised its holdings in shares of SiBone by 101.6% in the 1st quarter. Renaissance Technologies LLC now owns 472,619 shares of the company’s stock worth $5,969,000 after purchasing an additional 238,219 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in SiBone by 41.8% in the first quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company’s stock valued at $7,816,000 after purchasing an additional 182,465 shares during the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on SIBN. TD Cowen boosted their price target on shares of SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. UBS Group boosted their target price on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SiBone presently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

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.