First Light Asset Management LLC Purchases 2,774,795 Shares of SiBone $SIBN

First Light Asset Management LLC grew its position in SiBone (NASDAQ:SIBN) by 51.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,127,985 shares of the company’s stock after acquiring an additional 2,774,795 shares during the period. SiBone comprises approximately 8.1% of First Light Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. First Light Asset Management LLC owned approximately 18.33% of SiBone worth $132,649,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of SiBone by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after acquiring an additional 1,053 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in SiBone in the 1st quarter worth about $225,000. Goldman Sachs Group Inc. raised its holdings in SiBone by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock worth $5,328,000 after purchasing an additional 83,919 shares during the period. Jane Street Group LLC purchased a new position in SiBone during the first quarter worth approximately $1,818,000. Finally, Legal & General Group Plc boosted its position in 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 purchasing an additional 5,888 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on SIBN. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. TD Cowen lifted their price target on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. UBS Group boosted their price target on shares of SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Truist Financial restated a “buy” rating and set a $23.00 price objective (up from $21.00) on shares of SiBone in a research report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.17.

SiBone Price Performance

NASDAQ:SIBN opened at $18.41 on Thursday. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The stock has a 50 day moving average of $18.23 and a two-hundred day moving average of $15.64. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. The firm has a market cap of $816.48 million, a P/E ratio of -54.15 and a beta of 0.70.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.06. The business had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. On average, analysts expect that SiBone will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at SiBone

In other SiBone news, SVP Michael Pisetsky sold 3,725 shares of SiBone stock in a transaction on Monday, August 17th. The shares were sold at an average price of $18.63, for a total transaction of $69,396.75. Following the sale, the senior vice president owned 273,650 shares of the company’s stock, valued at $5,098,099.50. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anshul Maheshwari sold 11,636 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $20.11, for a total transaction of $233,999.96. Following the sale, the insider directly owned 223,284 shares of the company’s stock, valued at $4,490,241.24. The trade was a 4.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 165,231 shares of company stock worth $3,193,690. Company insiders own 4.00% of the company’s stock.

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.