SiBone (NASDAQ:SIBN) Reaches New 1-Year High – Here’s What Happened

SiBone (NASDAQ:SIBN)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $21.15 and last traded at $20.8610, with a volume of 40899 shares. The stock had previously closed at $20.40.

Wall Street Analysts Forecast Growth

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

SiBone Trading Down 2.4%

The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62. The business’s 50-day moving average is $18.82 and its two-hundred day moving average is $17.09. The firm has a market cap of $906.00 million, a P/E ratio of -40.94 and a beta of 0.69.

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

Insider Buying and Selling

In related news, SVP Michael A. Pisetsky sold 3,460 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $19.62, for a total value of $67,885.20. Following the completion of the sale, the senior vice president directly owned 228,436 shares in the company, valued at approximately $4,481,914.32. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Laura Francis sold 5,411 shares of SiBone stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $17.70, for a total value of $95,774.70. Following the transaction, the chief executive officer owned 351,319 shares of the company’s stock, valued at $6,218,346.30. The trade was a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 187,886 shares of company stock worth $3,570,767 in the last quarter. 4.00% of the stock is owned by company insiders.

Institutional Trading of SiBone

A number of hedge funds have recently made changes to their positions in SIBN. State of Alaska Department of Revenue bought a new position in shares of SiBone during the 3rd quarter worth approximately $39,000. State of Wyoming acquired a new stake in SiBone during the 2nd quarter valued at $55,000. Canada Pension Plan Investment Board acquired a new stake in SiBone during the 2nd quarter valued at $68,000. Quarry LP boosted its position in SiBone by 862.6% during the third quarter. Quarry LP now owns 4,861 shares of the company’s stock worth $72,000 after purchasing an additional 4,356 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of SiBone by 198.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock valued at $92,000 after purchasing an additional 3,258 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

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.