SiBone (NASDAQ:SIBN) Shares Gap Up – Should You Buy?

Shares of SiBone (NASDAQ:SIBN) gapped up prior to trading on Tuesday . The stock had previously closed at $17.05, but opened at $17.72. SiBone shares last traded at $17.7410, with a volume of 252,650 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SIBN. Wall Street Zen downgraded shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. TD Cowen lowered their target price on SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Truist Financial boosted their price target on SiBone from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, UBS Group initiated coverage on SiBone in a report on Tuesday. They issued a “buy” rating and a $24.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.57.

SiBone Stock Performance

The company has a market capitalization of $798.57 million, a price-to-earnings ratio of -46.19 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The company’s fifty day simple moving average is $16.10 and its two-hundred day simple moving average is $15.14.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating 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 analyst estimates of $51.16 million. Equities research analysts predict that SiBone will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other SiBone news, Director Jeffrey W. Dunn sold 3,575 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $15.25, for a total transaction of $54,518.75. Following the transaction, the director owned 16,057 shares of the company’s stock, valued at $244,869.25. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Anshul Maheshwari sold 3,317 shares of SiBone stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $16.77, for a total value of $55,626.09. Following the completion of the transaction, the chief financial officer owned 256,560 shares of the company’s stock, valued at approximately $4,302,511.20. The trade was a 1.28% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 36,326 shares of company stock valued at $545,661 over the last three months. Company insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of SiBone by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after buying an additional 1,053 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in SiBone in the first quarter worth about $225,000. Goldman Sachs Group Inc. lifted its holdings in SiBone by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock worth $5,328,000 after acquiring an additional 83,919 shares during the last quarter. Jane Street Group LLC acquired a new position in SiBone in the first quarter valued at approximately $1,818,000. Finally, Legal & General Group Plc boosted its stake in SiBone by 16.1% in the second quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock valued at $798,000 after acquiring an additional 5,888 shares during the period. Institutional investors own 98.11% of the company’s stock.

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.