SI-Bone Inc (NASDAQ:SIBN) Major Shareholder Sells $958,656.40 in Stock

SI-Bone Inc (NASDAQ:SIBN) major shareholder Skyline Venture Partners V. Lp sold 47,576 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $20.15, for a total transaction of $958,656.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of SI-Bone stock traded down $0.91 during trading on Friday, hitting $18.85. 109,249 shares of the company’s stock were exchanged, compared to its average volume of 122,046. The company has a debt-to-equity ratio of 0.50, a quick ratio of 11.55 and a current ratio of 12.00. The business has a 50-day simple moving average of $19.14 and a 200-day simple moving average of $18.15. SI-Bone Inc has a 52-week low of $14.08 and a 52-week high of $23.03. The stock has a market capitalization of $485.38 million and a price-to-earnings ratio of -26.55.

SI-Bone (NASDAQ:SIBN) last issued its earnings results on Tuesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.05. SI-Bone had a negative net margin of 46.59% and a negative return on equity of 84.84%. The firm had revenue of $16.32 million during the quarter. On average, equities analysts anticipate that SI-Bone Inc will post -1.4 earnings per share for the current fiscal year.

SIBN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of SI-Bone from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. ValuEngine raised shares of SI-Bone from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.75.

Several institutional investors have recently modified their holdings of SIBN. Legal & General Group Plc acquired a new position in SI-Bone during the 4th quarter worth approximately $27,000. Bank of Montreal Can purchased a new position in shares of SI-Bone in the second quarter worth about $28,000. Private Ocean LLC purchased a new position in shares of SI-Bone in the second quarter worth about $131,000. Deutsche Bank AG purchased a new position in shares of SI-Bone in the fourth quarter worth about $227,000. Finally, Citadel Advisors LLC purchased a new position in shares of SI-Bone in the second quarter worth about $272,000. 42.86% of the stock is owned by hedge funds and other institutional investors.

SI-Bone Company Profile

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

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