SiBone $SIBN Holdings Boosted by First Light Asset Management LLC

First Light Asset Management LLC raised its stake in SiBone (NASDAQ:SIBN) by 51.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,127,985 shares of the company’s stock after buying an additional 2,774,795 shares during the period. SiBone accounts for approximately 8.1% of First Light Asset Management LLC’s investment portfolio, making the stock its 2nd largest position. First Light Asset Management LLC owned about 0.18% of SiBone worth $132,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in SiBone during the first quarter worth about $225,000. Goldman Sachs Group Inc. raised its stake in SiBone by 28.4% during the first 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 about $1,818,000. Finally, Legal & General Group Plc boosted its holdings in SiBone by 16.1% in the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock valued at $798,000 after purchasing an additional 5,888 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SIBN has been the subject of several analyst reports. TD Cowen increased 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 upped their price objective on SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Truist Financial reiterated a “buy” rating and issued a $23.00 price objective (up from $21.00) on shares of SiBone in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Six research 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 company has a consensus rating of “Moderate Buy” and an average price target of $24.17.

Insider Transactions at SiBone

In other SiBone news, SVP Michael Pisetsky sold 3,725 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $18.63, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 firm’s stock in a transaction 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 of the company’s stock, valued at approximately $4,490,241.24. This represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 165,231 shares of company stock worth $3,193,690 in the last ninety days. 4.00% of the stock is owned by company insiders.

SiBone Price Performance

Shares of SIBN opened at $18.41 on Thursday. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89. The stock has a market cap of $816.48 million, a PE ratio of -54.15 and a beta of 0.70. The firm has a 50-day simple moving average of $18.23 and a two-hundred day simple moving average of $15.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.06. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. The firm had revenue of $56.01 million for the quarter, compared to analyst estimates of $55.34 million. As a group, analysts forecast that SiBone will post -0.4 EPS for the current year.

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.