SiBone (NASDAQ:SIBN) Price Target Raised to $23.00

SiBone (NASDAQ:SIBN) had its price target boosted by equities research analysts at Truist Financial from $21.00 to $23.00 in a research note issued on Thursday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 16.66% from the stock’s previous close.

A number of other research firms have also weighed in on SIBN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SiBone in a research note on Monday. Canaccord Genuity Group increased their price objective on shares of SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley lifted their price objective on shares of SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Needham & Company LLC upped their target price on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.00.

SiBone Stock Performance

Shares of NASDAQ:SIBN traded up $0.58 during mid-day trading on Thursday, reaching $19.72. 103,230 shares of the company traded hands, compared to its average volume of 449,144. SiBone has a 52 week low of $12.49 and a 52 week high of $20.05. The firm has a market cap of $855.43 million, a PE ratio of -38.65 and a beta of 0.76. The company’s 50 day moving average price is $17.22 and its 200-day moving average price is $16.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. SiBone had a negative return on equity of 12.86% and a negative net margin of 11.24%.The business had revenue of $48.66 million for the quarter, compared to the consensus estimate of $46.67 million. On average, equities analysts expect that SiBone will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey W. Dunn sold 18,759 shares of SiBone stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $19.33, for a total transaction of $362,611.47. Following the completion of the sale, the director owned 110,115 shares in the company, valued at approximately $2,128,522.95. This trade represents a 14.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laura Francis sold 5,411 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $17.70, for a total value of $95,774.70. Following the completion of the transaction, the chief executive officer owned 351,319 shares of the company’s stock, valued at $6,218,346.30. This trade represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 147,128 shares of company stock worth $2,698,252. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in SiBone by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after purchasing an additional 1,053 shares during the period. Tudor Investment Corp ET AL grew its position in shares of SiBone by 0.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock valued at $3,798,000 after buying an additional 1,968 shares during the last quarter. Rhumbline Advisers lifted its holdings in SiBone by 3.6% in the first quarter. Rhumbline Advisers now owns 59,721 shares of the company’s stock worth $838,000 after acquiring an additional 2,100 shares during the last quarter. Franklin Resources Inc. lifted its holdings in SiBone by 8.3% in the third quarter. Franklin Resources Inc. now owns 29,018 shares of the company’s stock worth $427,000 after acquiring an additional 2,228 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in SiBone by 21.5% in the first quarter. EntryPoint Capital LLC now owns 14,787 shares of the company’s stock valued at $207,000 after acquiring an additional 2,613 shares during the period. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

About SiBone

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.