Insider Selling: SiBone (NASDAQ:SIBN) Director Sells $54,518.75 in Stock

SiBone (NASDAQ:SIBN) Director Jeffrey Dunn sold 3,575 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $15.25, for a total value of $54,518.75. Following the transaction, the director owned 16,057 shares in the company, valued at $244,869.25. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Stock Down 1.0%

NASDAQ SIBN opened at $15.37 on Thursday. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $13.84 and its two-hundred day moving average is $15.87. The company has a market capitalization of $681.64 million, a price-to-earnings ratio of -39.41 and a beta of 0.70. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89.

SiBone (NASDAQ:SIBN) last announced its earnings results on Monday, May 11th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.07. The business had revenue of $52.59 million for the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%. Equities analysts forecast that SiBone will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiBone

A number of large investors have recently modified their holdings of SIBN. Hussman Strategic Advisors Inc. acquired a new stake in SiBone in the 4th quarter valued at about $1,656,000. Impax Asset Management Group plc lifted its stake in SiBone by 17.1% in the 4th quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock valued at $23,664,000 after purchasing an additional 175,000 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in SiBone by 36.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company’s stock valued at $7,128,000 after purchasing an additional 129,723 shares during the last quarter. HighMark Wealth Management LLC lifted its stake in SiBone by 549.7% in the 4th quarter. HighMark Wealth Management LLC now owns 159,832 shares of the company’s stock valued at $3,152,000 after purchasing an additional 135,232 shares during the last quarter. Finally, First Light Asset Management LLC lifted its stake in SiBone by 9.5% in the 3rd quarter. First Light Asset Management LLC now owns 1,917,903 shares of the company’s stock valued at $28,232,000 after purchasing an additional 166,902 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. TD Cowen dropped their target price on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Wall Street Zen cut shares of SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Truist Financial reiterated a “buy” rating and set a $18.00 target price (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

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.