SiBone (NASDAQ:SIBN) Insider Sells 3,318 Shares of Stock

SiBone (NASDAQ:SIBN) insider Anshul Maheshwari sold 3,318 shares of SiBone stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $18.18, for a total transaction of $60,321.24. Following the completion of the sale, the insider owned 219,966 shares of the company’s stock, valued at $3,998,981.88. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anshul Maheshwari also recently made the following trade(s):

• On Monday, October 5th, Anshul Maheshwari sold 1,731 shares of SiBone stock. The shares were sold at an average price of $19.50, for a total transaction of $33,754.50.
• On Monday, August 24th, Anshul Maheshwari sold 11,636 shares of SiBone stock. The shares were sold at an average price of $20.11, for a total transaction of $233,999.96.
• On Friday, August 21st, Anshul Maheshwari sold 11,228 shares of SiBone stock. The stock was sold at an average price of $20.02, for a total value of $224,784.56.
• On Wednesday, August 19th, Anshul Maheshwari sold 5,747 shares of SiBone stock. The shares were sold at an average price of $19.55, for a total value of $112,353.85.
• On Monday, August 17th, Anshul Maheshwari sold 4,665 shares of SiBone stock. The stock was sold at an average price of $18.65, for a total value of $87,002.25.

SiBone Stock Performance

Shares of SiBone stock traded down $0.26 on Tuesday, reaching $19.55. 538,730 shares of the stock were exchanged, compared to its average volume of 582,763. The business has a 50 day moving average price of $18.77 and a two-hundred day moving average price of $16.20. The firm has a market capitalization of $867.04 million, a price-to-earnings ratio of -57.50 and a beta of 0.66. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20.

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

Analyst Ratings Changes

SIBN has been the topic of several recent research reports. 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. UBS Group boosted their target price on shares of SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Truist Financial reissued a “buy” rating and set a $23.00 price target (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

Institutional Trading of SiBone

A number of institutional investors and hedge funds have recently made changes to their positions in SIBN. First Light Asset Management LLC grew its stake in SiBone by 51.8% in the 2nd quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company’s stock valued at $132,649,000 after acquiring an additional 2,774,795 shares during the period. Granahan Investment Management LLC lifted its holdings in SiBone by 97.6% during 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 lifted its holdings 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 valued at $14,228,000 after purchasing an additional 598,300 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of SiBone by 101.6% in the first quarter. Renaissance Technologies LLC now owns 472,619 shares of the company’s stock valued at $5,969,000 after purchasing an additional 238,219 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of SiBone by 41.8% in the first quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company’s stock valued at $7,816,000 after purchasing an additional 182,465 shares during the period. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

About SiBone

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company’s technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.