OP Asset Management Ltd Buys New Shares in SiBone $SIBN

OP Asset Management Ltd bought a new position in shares of SiBone (NASDAQ:SIBN) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,982 shares of the company’s stock, valued at approximately $391,000. OP Asset Management Ltd owned approximately 0.07% of SiBone as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Light Asset Management LLC raised its holdings in SiBone by 162.4% in the 4th quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock valued at $99,249,000 after acquiring an additional 3,115,001 shares in the last quarter. Cadian Capital Management LP grew its holdings in shares of SiBone by 96.8% during the 4th quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock worth $23,094,000 after purchasing an additional 576,100 shares in the last quarter. American Century Companies Inc. increased its position in shares of SiBone by 22.5% during the third quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after purchasing an additional 521,683 shares during the period. Wellington Management Group LLP increased its position in shares of SiBone by 74.7% during the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock valued at $12,560,000 after purchasing an additional 364,897 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of SiBone in the second quarter valued at $4,079,000. 98.11% of the stock is currently owned by institutional investors.

Insider Transactions at SiBone

In other news, SVP Michael A. Pisetsky sold 3,726 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $14.63, for a total value of $54,511.38. Following the sale, the senior vice president owned 280,509 shares in the company, valued at approximately $4,103,846.67. The trade was a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Laura Francis sold 14,957 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $14.71, for a total transaction of $220,017.47. Following the completion of the sale, the chief executive officer owned 503,444 shares in the company, valued at $7,405,661.24. This represents a 2.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 34,528 shares of company stock valued at $497,537. 3.90% of the stock is owned by insiders.

Analysts Set New Price Targets

SIBN has been the subject of several research reports. Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Truist Financial reissued 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. Finally, TD Cowen dropped their price objective on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.00.

SiBone Trading Down 3.3%

SIBN stock opened at $16.32 on Wednesday. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89. The firm has a market cap of $723.79 million, a P/E ratio of -41.85 and a beta of 0.70. The business’s 50 day moving average is $14.52 and its 200-day moving average is $15.54. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20.

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

SiBone 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.