Insider Selling: SiBone (NASDAQ:SIBN) CFO Sells $55,626.09 in Stock

SiBone (NASDAQ:SIBN) CFO Anshul Maheshwari sold 3,317 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $16.77, for a total transaction of $55,626.09. Following the sale, the chief financial officer owned 256,560 shares in the company, valued at $4,302,511.20. This represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Stock Down 2.4%

Shares of SIBN opened at $16.89 on Thursday. The firm has a 50 day simple moving average of $14.94 and a two-hundred day simple moving average of $15.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.99 and a quick ratio of 8.34. SiBone has a one year low of $11.48 and a one year high of $21.89. The company has a market cap of $749.07 million, a P/E ratio of -43.31 and a beta of 0.67.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of SiBone in a research note on Thursday, July 2nd. Truist Financial reaffirmed a “buy” rating and set a $18.00 price target (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. TD Cowen lowered their price objective 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. Finally, Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Institutional Trading of SiBone

Several institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SiBone by 4.5% during the 1st 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 last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SiBone in the first quarter valued at about $225,000. Goldman Sachs Group Inc. increased its stake in shares of SiBone by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after buying an additional 83,919 shares during the period. Jane Street Group LLC bought a new position in shares of SiBone during the first quarter worth about $1,818,000. Finally, Legal & General Group Plc raised its position in shares of SiBone by 16.1% during the second quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock worth $798,000 after acquiring an additional 5,888 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

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.