SiBone (NASDAQ:SIBN) Sets New 12-Month Low – What’s Next?

SiBone (NASDAQ:SIBN) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $12.47 and last traded at $12.5850, with a volume of 33378 shares. The stock had previously closed at $12.84.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SIBN. Truist Financial reaffirmed a “buy” rating and set a $24.00 price target (up from $23.00) on shares of SiBone in a research report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. TD Cowen upped their price objective on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Canaccord Genuity Group upped their price target on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Morgan Stanley lifted their price objective on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, SiBone presently has a consensus rating of “Moderate Buy” and an average target price of $24.67.

SiBone Stock Down 1.4%

The stock has a market capitalization of $559.00 million, a price-to-earnings ratio of -28.68 and a beta of 0.69. The firm has a 50-day moving average of $15.12 and a 200 day moving average of $16.50. The company has a current ratio of 8.55, a quick ratio of 7.21 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last announced its earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.09. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. The business had revenue of $56.35 million during the quarter, compared to the consensus estimate of $56.26 million. On average, sell-side analysts anticipate that SiBone will post -0.78 earnings per share for the current year.

Insider Buying and Selling at SiBone

In other SiBone news, insider Anthony J. Recupero sold 21,049 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.40, for a total transaction of $324,154.60. Following the completion of the sale, the insider owned 243,418 shares in the company, valued at $3,748,637.20. This trade represents a 7.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mika Nishimura sold 4,100 shares of SiBone stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $13.83, for a total value of $56,703.00. Following the sale, the director owned 32,716 shares in the company, valued at $452,462.28. This represents a 11.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 193,611 shares of company stock valued at $3,136,244. Company insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

Several institutional investors have recently added to or reduced their stakes in the stock. Impax Asset Management Group plc increased its holdings in SiBone by 48.2% in the third quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock valued at $15,088,000 after buying an additional 333,249 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of SiBone by 36.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company’s stock worth $7,128,000 after acquiring an additional 129,723 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of SiBone by 337.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,369 shares of the company’s stock valued at $1,227,000 after acquiring an additional 64,322 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of SiBone in the 3rd quarter valued at approximately $3,297,000. Finally, Divisadero Street Capital Management LP raised its position in shares of SiBone by 17.8% during the 2nd quarter. Divisadero Street Capital Management LP now owns 339,791 shares of the company’s stock valued at $6,395,000 after acquiring an additional 51,363 shares in the last quarter. 98.11% of the stock is 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.