Wellington Management Group LLP Cuts Stock Position in SiBone $SIBN

Wellington Management Group LLP decreased its position in shares of SiBone (NASDAQ:SIBN) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 742,857 shares of the company’s stock after selling 29,755 shares during the period. Wellington Management Group LLP’s holdings in SiBone were worth $12,123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First Light Asset Management LLC lifted its position in shares of SiBone by 162.4% during the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after purchasing an additional 3,115,001 shares in the last quarter. Granahan Investment Management LLC grew its holdings in shares of SiBone by 97.6% in the first quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after purchasing an additional 858,942 shares in the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of SiBone by 113.3% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock valued at $14,228,000 after purchasing an additional 598,300 shares in the last quarter. Cadian Capital Management LP grew its holdings in shares of SiBone by 96.8% in the fourth quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock valued at $23,094,000 after purchasing an additional 576,100 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in SiBone by 101.6% during the 1st quarter. Renaissance Technologies LLC now owns 472,619 shares of the company’s stock worth $5,969,000 after buying an additional 238,219 shares during the period. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SIBN has been the topic of a number of research reports. UBS Group increased their target price on shares of SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Truist Financial reaffirmed 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. TD Cowen upped their price objective on SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SiBone currently has an average rating of “Moderate Buy” and an average price target of $24.17.

Insider Transactions at SiBone

In related news, Director Jeffrey W. Dunn sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $18.91, for a total value of $378,200.00. Following the completion of the sale, the director directly owned 16,057 shares of the company’s stock, valued at $303,637.87. This represents a 55.47% 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, insider Anshul Maheshwari sold 11,636 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $20.11, for a total value of $233,999.96. Following the transaction, the insider owned 223,284 shares in the company, valued at $4,490,241.24. This represents a 4.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 165,231 shares of company stock valued at $3,193,690 over the last quarter. Company insiders own 4.00% of the company’s stock.

SiBone Stock Performance

NASDAQ SIBN opened at $18.50 on Tuesday. The firm’s fifty day moving average price is $18.15 and its 200 day moving average price is $15.60. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55. The company has a market capitalization of $820.48 million, a price-to-earnings ratio of -54.41 and a beta of 0.70.

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

SiBone 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.