SiBone (NASDAQ:SIBN) Director Sells $425,600.00 in Stock

SiBone (NASDAQ:SIBN) Director Jeffrey Dunn sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $21.28, for a total transaction of $425,600.00. Following the transaction, the director owned 80,115 shares in the company, valued at $1,704,847.20. This represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

SiBone Stock Down 12.6%

Shares of SIBN stock traded down $2.57 during trading hours on Monday, reaching $17.87. The company had a trading volume of 1,671,465 shares, compared to its average volume of 746,750. The company has a market cap of $775.40 million, a price-to-earnings ratio of -35.04 and a beta of 0.69. The business has a fifty day simple moving average of $18.93 and a 200-day simple moving average of $17.11. SiBone has a 12 month low of $12.49 and a 12 month high of $21.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. The business had revenue of $48.66 million for the quarter, compared to analyst estimates of $46.67 million. On average, research analysts expect that SiBone will post -0.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SIBN. Morgan Stanley lifted their price target on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Canaccord Genuity Group increased their price target on shares of SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Needham & Company LLC increased their target price on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Truist Financial lifted their price objective on SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its stake in SiBone by 0.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock worth $4,437,000 after acquiring an additional 997 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of SiBone by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after purchasing an additional 1,053 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of SiBone by 0.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock valued at $3,798,000 after purchasing an additional 1,968 shares during the period. Rhumbline Advisers lifted its position in shares of SiBone by 3.6% in the first quarter. Rhumbline Advisers now owns 59,721 shares of the company’s stock valued at $838,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of SiBone by 8.3% in the third quarter. Franklin Resources Inc. now owns 29,018 shares of the company’s stock worth $427,000 after acquiring an additional 2,228 shares during the period. 98.11% of the stock is currently owned by institutional investors.

About SiBone

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.