SiBone (NASDAQ:SIBN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of SiBone (NASDAQ:SIBN) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $23.00.

Several analysts recently issued reports on the stock. TD Cowen cut their price target on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen cut shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $18.00 price target (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th.

SiBone Stock Performance

NASDAQ SIBN opened at $14.68 on Tuesday. The company’s fifty day simple moving average is $13.41 and its 200-day simple moving average is $16.09. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20. The stock has a market cap of $651.06 million, a P/E ratio of -37.64 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last posted its earnings results on Monday, May 11th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The business had revenue of $52.59 million for the quarter, compared to analysts’ expectations of $51.16 million. Equities research analysts predict that SiBone will post -0.44 EPS for the current fiscal year.

Insider Activity at SiBone

In related news, CEO Laura Francis sold 14,957 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $14.71, for a total value of $220,017.47. Following the sale, the chief executive officer directly owned 503,444 shares of the company’s stock, valued at $7,405,661.24. This represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Anshul Maheshwari sold 3,318 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total transaction of $42,702.66. Following the completion of the sale, the chief financial officer directly owned 263,148 shares in the company, valued at $3,386,714.76. This represents a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,572 shares of company stock valued at $418,831. Insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in SiBone by 8.7% in the first quarter. Bank of America Corp DE now owns 419,473 shares of the company’s stock valued at $5,298,000 after acquiring an additional 33,688 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in SiBone in the first quarter valued at $159,000. Quantinno Capital Management LP raised its holdings in shares of SiBone by 58.2% during the first quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock worth $372,000 after purchasing an additional 10,848 shares during the period. First Light Asset Management LLC raised its holdings in shares of SiBone by 6.4% during the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock worth $67,611,000 after purchasing an additional 320,286 shares during the period. Finally, Granahan Investment Management LLC raised its holdings in shares of SiBone by 97.6% during the first quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock worth $21,965,000 after purchasing an additional 858,942 shares during the period. 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.