SiBone (SIBN) – What Are Researchers Thinking About This Stock?

SiBone (NASDAQ:SIBN) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $24.50.

SIBN has been the topic of a number of recent analyst reports. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. UBS Group boosted their price target on SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Truist Financial lifted their target price on SiBone from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Finally, TD Cowen boosted their price objective on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 4th.

Insiders Place Their Bets

In other SiBone news, Director Jeffrey W. Dunn sold 20,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $18.47, for a total transaction of $369,400.00. Following the completion of the transaction, the director directly owned 16,057 shares in the company, valued at approximately $296,572.79. This represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laura Francis sold 38,006 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $20.05, for a total value of $762,020.30. Following the sale, the chief executive officer owned 379,256 shares of the company’s stock, valued at approximately $7,604,082.80. This trade represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 224,968 shares of company stock valued at $4,368,118 over the last ninety days. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of SiBone

Several institutional investors have recently made changes to their positions in the company. First Light Asset Management LLC increased its holdings in shares of 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 last quarter. Dimensional Fund Advisors LP boosted its stake in 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 acquiring an additional 182,465 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of SiBone by 101.6% during the first quarter. Renaissance Technologies LLC now owns 472,619 shares of the company’s stock worth $5,969,000 after purchasing an additional 238,219 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of SiBone by 40.3% in the 2nd quarter. Squarepoint Ops LLC now owns 118,128 shares of the company’s stock valued at $1,928,000 after acquiring an additional 33,947 shares during the period. Finally, Granahan Investment Management LLC grew its position in SiBone by 97.6% during the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock worth $21,965,000 after purchasing an additional 858,942 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SiBone Price Performance

SiBone stock opened at $21.44 on Friday. The firm has a 50-day moving average of $19.27 and a two-hundred day moving average of $16.41. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89.

SiBone (NASDAQ:SIBN) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.06. The firm had revenue of $56.01 million during the quarter, compared to the consensus estimate of $55.34 million. Equities analysts forecast that SiBone will post -0.40 EPS for the current fiscal year.

About SiBone

SI-BONE, Inc (NASDAQ: SIBN) is a medical device company focused on diagnosing and treating disorders of the sacroiliac joint, which connects the spine to the pelvis. The company develops minimally invasive surgical solutions intended to stabilize the sacroiliac joint and address sacroiliac joint dysfunction and related conditions.

Its product portfolio is centered on the iFuse Implant System, a family of triangular implants designed to be placed across the sacroiliac joint. SI-BONE also offers products such as iFuse-TORQ, a threaded implant system, and iFuse Bedrock Granite, which is designed for sacroiliac joint fusion and pelvic fixation as part of certain spinal procedures.