SiBone (NASDAQ:SIBN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of SiBone (NASDAQ:SIBN) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $23.00.

A number of analysts have commented on SIBN shares. Weiss Ratings restated a “sell (e+)” rating on shares of SiBone in a research report on Thursday, July 2nd. TD Cowen decreased their price objective 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. Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Truist Financial reiterated a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th.

Insider Activity

In other news, SVP Michael A. Pisetsky sold 3,726 shares of SiBone stock in a transaction on Monday, May 18th. The stock was sold at an average price of $14.63, for a total transaction of $54,511.38. Following the transaction, the senior vice president directly owned 280,509 shares in the company, valued at approximately $4,103,846.67. This trade represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy E. Davis, Jr. sold 3,780 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $14.47, for a total value of $54,696.60. Following the completion of the sale, the director owned 69,222 shares of the company’s stock, valued at approximately $1,001,642.34. This trade represents a 5.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 36,326 shares of company stock worth $545,661 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiBone

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its stake in SiBone by 102.9% during 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. Bank of America Corp DE increased its position in shares of SiBone by 8.7% in the first quarter. Bank of America Corp DE now owns 419,473 shares of the company’s stock worth $5,298,000 after acquiring an additional 33,688 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of SiBone during the first quarter valued at approximately $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 valued at $372,000 after acquiring an additional 10,848 shares during the period. Finally, First Light Asset Management LLC lifted its position in shares of SiBone by 6.4% in the 1st quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after acquiring an additional 320,286 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors.

SiBone Stock Down 5.3%

NASDAQ:SIBN opened at $16.91 on Wednesday. The firm has a market capitalization of $749.96 million, a PE ratio of -43.36 and a beta of 0.67. The stock has a 50 day moving average of $15.33 and a 200-day moving average of $15.37. 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.

SiBone (NASDAQ:SIBN) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.10) earnings per share 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. Analysts predict 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.