SiBone (NASDAQ:SIBN) Stock Price Down 6.7% Following Insider Selling

SiBone (NASDAQ:SIBN)’s stock price fell 6.7% during mid-day trading on Monday following insider selling activity. The company traded as low as $19.15 and last traded at $19.0650. 87,801 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 520,078 shares. The stock had previously closed at $20.44.

Specifically, Director Jeffrey W. Dunn sold 20,000 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $21.28, for a total transaction of $425,600.00. Following the completion of the transaction, the director directly owned 80,115 shares in the company, valued at approximately $1,704,847.20. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 5,229 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $19.64, for a total transaction of $102,697.56. Following the transaction, the chief financial officer owned 180,002 shares in the company, valued at $3,535,239.28. The trade was a 2.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other SiBone news, SVP Michael A. Pisetsky sold 3,460 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $19.62, for a total value of $67,885.20. Following the completion of the sale, the senior vice president directly owned 228,436 shares of the company’s stock, valued at $4,481,914.32. This trade represents a 1.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

SIBN has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. Morgan Stanley raised their price objective on shares of SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Needham & Company LLC upped their target price on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Finally, Canaccord Genuity Group raised their price objective on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.00.

SiBone Price Performance

The company’s 50-day moving average is $19.08 and its 200-day moving average is $17.11. The firm has a market capitalization of $756.72 million, a price-to-earnings ratio of -34.20 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. The firm had revenue of $48.66 million for the quarter, compared to analyst estimates of $46.67 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. On average, research analysts expect that SiBone will post -0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in SiBone by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after buying an additional 1,053 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of SiBone in the first quarter worth approximately $225,000. Goldman Sachs Group Inc. lifted its holdings in shares of SiBone by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after purchasing an additional 83,919 shares in the last quarter. Jane Street Group LLC acquired a new stake in SiBone during the 1st quarter worth about $1,818,000. Finally, Rhumbline Advisers grew its position in SiBone by 3.6% during the first quarter. Rhumbline Advisers now owns 59,721 shares of the company’s stock valued at $838,000 after purchasing an additional 2,100 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

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.