Royce & Associates LP Acquires 52,019 Shares of SiBone $SIBN

Royce & Associates LP boosted its holdings in shares of SiBone (NASDAQ:SIBN) by 47.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 162,051 shares of the company’s stock after acquiring an additional 52,019 shares during the quarter. Royce & Associates LP owned 0.38% of SiBone worth $2,385,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SIBN. State of Alaska Department of Revenue bought a new stake in shares of SiBone during the third quarter worth $39,000. State of Wyoming purchased a new position in SiBone in the 2nd quarter worth about $55,000. Canada Pension Plan Investment Board bought a new stake in SiBone during the 2nd quarter valued at about $68,000. Tower Research Capital LLC TRC lifted its holdings in SiBone by 198.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock valued at $92,000 after buying an additional 3,258 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in SiBone in the 2nd quarter valued at about $137,000. Institutional investors own 98.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on SIBN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. TD Cowen raised their price objective on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Morgan Stanley lifted their target price on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Canaccord Genuity Group upped their target price on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Finally, Truist Financial restated a “buy” rating and set a $24.00 price target (up from $23.00) on shares of SiBone in a research note on Tuesday, February 24th. Six investment 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, SiBone has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

SiBone Stock Down 4.4%

SiBone stock opened at $14.07 on Friday. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20. The firm has a market cap of $621.47 million, a P/E ratio of -31.98 and a beta of 0.69. The business has a fifty day moving average of $17.01 and a two-hundred day moving average of $16.81. SiBone has a twelve month low of $12.49 and a twelve month high of $21.89.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. The firm had revenue of $56.35 million during the quarter, compared to analyst estimates of $56.26 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. On average, analysts forecast that SiBone will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Michael A. Pisetsky sold 20,756 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total transaction of $318,604.60. Following the completion of the transaction, the senior vice president owned 285,974 shares in the company, valued at $4,389,700.90. The trade was a 6.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Anshul Maheshwari sold 21,528 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.37, for a total transaction of $330,885.36. Following the sale, the chief financial officer directly owned 266,466 shares of the company’s stock, valued at $4,095,582.42. The trade was a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 247,653 shares of company stock valued at $4,234,702 in the last three months. 4.00% of the stock is currently owned by insiders.

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.