Timothy Davis, Jr. Sells 3,780 Shares of SiBone (NASDAQ:SIBN) Stock

SiBone (NASDAQ:SIBN) Director Timothy Davis, Jr. sold 3,780 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $14.47, for a total transaction of $54,696.60. Following the sale, the director directly owned 69,222 shares in the company, valued at $1,001,642.34. The trade was a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SiBone Price Performance

SIBN stock opened at $14.01 on Wednesday. The company has a market capitalization of $621.34 million, a P/E ratio of -35.92 and a beta of 0.70. The company has a fifty day moving average price of $13.55 and a 200-day moving average price of $16.03. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. SiBone has a 52-week low of $11.48 and a 52-week high of $21.89.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%. As a group, equities analysts expect that SiBone will post -0.44 EPS for the current year.

Institutional Investors Weigh In On SiBone

Large investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC increased its holdings in SiBone by 162.4% in the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after purchasing an additional 3,115,001 shares in the last quarter. Granahan Investment Management LLC grew its position in shares of 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 buying an additional 858,942 shares during the period. Paradigm Capital Management Inc. NY grew its position in shares of SiBone by 113.3% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock worth $14,228,000 after buying an additional 598,300 shares during the period. Cadian Capital Management LP increased its stake in shares of SiBone by 96.8% in the 4th quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock valued at $23,094,000 after acquiring an additional 576,100 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of SiBone by 22.5% in the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after acquiring an additional 521,683 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

Analyst Upgrades and Downgrades

SIBN has been the subject of a number of analyst reports. Wall Street Zen downgraded SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Truist Financial reiterated a “buy” rating and issued a $18.00 target price (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. Finally, TD Cowen lowered their price target on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

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.