Granahan Investment Management LLC Sells 224,678 Shares of SiBone $SIBN

Granahan Investment Management LLC lessened its position in shares of SiBone (NASDAQ:SIBN) by 17.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,039,649 shares of the company’s stock after selling 224,678 shares during the quarter. Granahan Investment Management LLC owned about 2.40% of SiBone worth $15,304,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in SiBone in the third quarter valued at about $39,000. State of Wyoming bought a new stake in SiBone during the 2nd quarter worth about $55,000. Canada Pension Plan Investment Board acquired a new position in SiBone during the 2nd quarter valued at about $68,000. Tower Research Capital LLC TRC lifted its position 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 purchasing an additional 3,258 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in SiBone during the 2nd quarter valued at about $137,000. Institutional investors own 98.11% of the company’s stock.

SiBone Price Performance

SiBone stock opened at $13.05 on Monday. The company has a current ratio of 8.55, a quick ratio of 7.21 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $576.42 million, a P/E ratio of -29.66 and a beta of 0.69. The business has a 50-day moving average of $16.28 and a 200-day moving average of $16.73. SiBone has a 1 year low of $12.49 and a 1 year high of $21.89.

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

Analysts Set New Price Targets

SIBN has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. TD Cowen increased their price objective on shares of SiBone from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Needham & Company LLC raised their price objective on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Finally, Truist Financial reiterated a “buy” rating and set a $24.00 target price (up from $23.00) on shares of SiBone in a research report on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, SiBone presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Insider Transactions at SiBone

In other news, insider Anthony J. Recupero sold 21,049 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.40, for a total value of $324,154.60. Following the completion of the transaction, the insider owned 243,418 shares of the company’s stock, valued at $3,748,637.20. The trade was a 7.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mika Nishimura sold 4,100 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $13.83, for a total transaction of $56,703.00. Following the completion of the sale, the director owned 32,716 shares of the company’s stock, valued at approximately $452,462.28. This represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 231,753 shares of company stock valued at $3,904,805. Corporate insiders own 3.90% 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.