SiBone (NASDAQ:SIBN) Given Consensus Rating of “Moderate Buy” by Analysts

SiBone (NASDAQ:SIBN) has earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.00.

SIBN has been the topic of a number of research analyst reports. TD Cowen lowered their price objective on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Truist Financial restated a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th.

Insider Activity at SiBone

In other SiBone news, CFO Anshul Maheshwari sold 3,318 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,386,714.76. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Dunn sold 3,575 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $15.25, for a total transaction of $54,518.75. Following the sale, the director directly owned 16,057 shares of the company’s stock, valued at approximately $244,869.25. This represents a 18.21% decrease in their ownership of the stock. 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. Insiders have sold 36,327 shares of company stock valued at $520,834 over the last quarter. 4.00% of the stock is owned by company insiders.

Institutional Trading of SiBone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in SiBone by 8.7% during the first quarter. Bank of America Corp DE now owns 419,473 shares of the company’s stock valued at $5,298,000 after buying an additional 33,688 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in SiBone during the first quarter valued at approximately $159,000. Quantinno Capital Management LP increased its holdings in SiBone by 58.2% during the first quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock valued at $372,000 after buying an additional 10,848 shares during the last quarter. First Light Asset Management LLC increased its holdings in SiBone by 6.4% during the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after buying an additional 320,286 shares during the last quarter. Finally, Granahan Investment Management LLC increased its holdings in SiBone by 97.6% during the first quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after buying an additional 858,942 shares during the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

SiBone Price Performance

Shares of SiBone stock opened at $15.84 on Friday. The company has a market cap of $702.50 million, a price-to-earnings ratio of -40.62 and a beta of 0.70. The company’s 50 day moving average is $14.16 and its 200 day moving average is $15.69. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last issued 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 company had revenue of $52.59 million for the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. Research analysts anticipate that SiBone will post -0.44 EPS for the current year.

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.