SiBone (NASDAQ:SIBN) Stock: Insider Jeffrey Dunn Sells 20,000 Shares

SiBone (NASDAQ:SIBN) Director Jeffrey Dunn sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was 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 of the company’s stock, valued at $296,572.79. This represents a 55.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

SiBone Stock Up 9.6%

NASDAQ SIBN traded up $1.73 during trading on Monday, reaching $19.81. 632,022 shares of the company’s stock were exchanged, compared to its average volume of 612,975. The firm has a market capitalization of $878.57 million, a PE ratio of -58.26 and a beta of 0.66. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $18.68 and its 200-day simple moving average is $16.10.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, topping 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%. Sell-side analysts predict that SiBone will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

SIBN has been the subject of several analyst reports. Truist Financial restated a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. UBS Group lifted their price objective on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Finally, TD Cowen boosted their target price on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

Hedge Funds Weigh In On SiBone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIBN. First Light Asset Management LLC increased its position 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 buying an additional 2,774,795 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of SiBone by 40.3% in the second quarter. Squarepoint Ops LLC now owns 118,128 shares of the company’s stock valued at $1,928,000 after purchasing an additional 33,947 shares during the last quarter. VELA Investment Management LLC lifted its position in SiBone by 7.4% during the 2nd quarter. VELA Investment Management LLC now owns 201,094 shares of the company’s stock worth $3,282,000 after buying an additional 13,934 shares in the last quarter. Corient Private Wealth LP raised its holdings in SiBone by 119.6% during the second quarter. Corient Private Wealth LP now owns 43,946 shares of the company’s stock worth $717,000 after acquiring an additional 23,938 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of SiBone by 102.9% in the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after buying an additional 887 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

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.