SiBone (NASDAQ:SIBN) SVP Sells $52,369.14 in Stock

SiBone (NASDAQ:SIBN) SVP Michael Pisetsky sold 3,134 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $16.71, for a total transaction of $52,369.14. Following the completion of the transaction, the senior vice president directly owned 277,375 shares in the company, valued at $4,634,936.25. The trade was a 1.12% 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 hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Stock Performance

Shares of SIBN stock traded up $0.57 during midday trading on Monday, hitting $17.68. 414,032 shares of the company were exchanged, compared to its average volume of 641,629. The firm has a market capitalization of $784.11 million, a P/E ratio of -45.33 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The firm’s 50 day moving average price is $14.70 and its two-hundred day moving average price is $15.50. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. The firm had revenue of $52.59 million for 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%. As a group, equities research analysts anticipate that SiBone will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On SiBone

A number of hedge funds have recently added to or reduced their stakes in SIBN. First Light Asset Management LLC lifted its position in shares of SiBone by 162.4% during the 4th quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after buying an additional 3,115,001 shares during the last quarter. Granahan Investment Management LLC raised its stake in SiBone by 97.6% during the first quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock worth $21,965,000 after acquiring an additional 858,942 shares in the last quarter. Paradigm Capital Management Inc. NY raised its stake in SiBone by 113.3% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock worth $14,228,000 after acquiring an additional 598,300 shares in the last quarter. Cadian Capital Management LP lifted 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 worth $23,094,000 after acquiring an additional 576,100 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of SiBone by 74.7% in the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock worth $12,560,000 after acquiring an additional 364,897 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SIBN. Truist Financial restated 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of SiBone in a research report on Thursday. Wall Street Zen downgraded SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, TD Cowen reduced 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. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.