SiBone (NASDAQ:SIBN) Short Interest Up 25.5% in March

SiBone (NASDAQ:SIBN) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 3,603,947 shares, an increase of 25.5% from the February 26th total of 2,871,776 shares. Based on an average trading volume of 538,789 shares, the short-interest ratio is currently 6.7 days. Currently, 8.5% of the company’s stock are sold short.

Insider Buying and Selling at SiBone

In other news, CFO Anshul Maheshwari sold 21,528 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.37, for a total value of $330,885.36. Following the completion of the sale, the chief financial officer owned 266,466 shares in the company, valued at approximately $4,095,582.42. The trade was a 7.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Pisetsky sold 20,756 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total transaction of $318,604.60. Following the completion of the sale, the senior vice president directly owned 285,974 shares of the company’s stock, valued at $4,389,700.90. The trade was a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 193,611 shares of company stock worth $3,136,244. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiBone

Hedge funds and other institutional investors have recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd acquired a new stake in SiBone in the 4th quarter worth approximately $29,000. Royal Bank of Canada increased its stake in SiBone by 98.5% during the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after purchasing an additional 736 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of SiBone by 64,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock worth $38,000 after buying an additional 1,941 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of SiBone during the third quarter worth $39,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of SiBone during the fourth quarter worth $53,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

SiBone Stock Up 2.9%

Shares of SIBN stock opened at $12.63 on Wednesday. SiBone has a 1-year low of $12.15 and a 1-year high of $21.89. The stock’s fifty day moving average price is $14.84 and its 200 day moving average price is $16.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. The company has a market cap of $557.87 million, a price-to-earnings ratio of -28.70 and a beta of 0.69.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. The company had revenue of $56.35 million during the quarter, compared to analysts’ expectations of $56.26 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. On average, research analysts expect that SiBone will post -0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SIBN has been the topic of several recent research reports. Wall Street Zen raised SiBone from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial reissued a “buy” rating and issued a $24.00 price target (up from $23.00) on shares of SiBone in a research report on Tuesday, February 24th. Needham & Company LLC upped their price objective on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. TD Cowen raised their price objective on SiBone from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Finally, Morgan Stanley lifted their target price on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

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.