SiBone (NASDAQ:SIBN) Trading Down 6.5% – What’s Next?

Shares of SiBone (NASDAQ:SIBN) dropped 6.5% during trading on Tuesday . The company traded as low as $16.63 and last traded at $16.6840. 81,501 shares traded hands during trading, a decline of 87% from the average daily volume of 639,239 shares. The stock had previously closed at $17.85.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $18.00 price target (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of SiBone in a report on Thursday, July 2nd. Finally, TD Cowen decreased their target price on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, SiBone presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

SiBone Stock Performance

The company has a market cap of $752.75 million, a price-to-earnings ratio of -43.79 and a beta of 0.67. The firm’s 50 day simple moving average is $15.26 and its 200-day simple moving average is $15.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99.

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

Insider Buying and Selling

In other news, Director Timothy E. Davis, Jr. sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $14.14, for a total transaction of $49,490.00. Following the transaction, the director directly owned 65,722 shares in the company, valued at $929,309.08. The trade was a 5.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Laura Francis sold 14,957 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $14.71, for a total value of $220,017.47. Following the completion of the sale, the chief executive officer owned 503,444 shares of the company’s stock, valued at $7,405,661.24. This trade represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 36,326 shares of company stock worth $545,661 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SiBone

A number of institutional investors have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd acquired a new position in SiBone during the fourth quarter worth $29,000. Royal Bank of Canada increased its stake in shares of SiBone by 98.5% in the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after acquiring an additional 736 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of SiBone by 102.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock worth $29,000 after acquiring an additional 887 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of SiBone by 64,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock worth $38,000 after acquiring an additional 1,941 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of SiBone during the 4th quarter worth $53,000. Hedge funds and other 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.