SiBone (NASDAQ:SIBN) Short Interest Up 19.3% in April

SiBone (NASDAQ:SIBN) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 4,632,479 shares, a growth of 19.3% from the March 31st total of 3,882,808 shares. Based on an average trading volume of 832,483 shares, the short-interest ratio is presently 5.6 days. Approximately 10.9% of the shares of the company are short sold.

Insider Activity

In related news, insider Anthony J. Recupero sold 21,049 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.40, for a total transaction of $324,154.60. Following the sale, the insider directly owned 243,418 shares in the company, valued at approximately $3,748,637.20. This represents a 7.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laura Francis sold 93,475 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.32, for a total transaction of $1,432,037.00. Following the sale, the chief executive officer owned 544,369 shares in the company, valued at $8,339,733.08. The trade was a 14.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 167,697 shares of company stock worth $2,551,086. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. First Light Asset Management LLC raised its holdings in shares of SiBone by 162.4% during the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock valued at $99,249,000 after purchasing an additional 3,115,001 shares during the last quarter. American Century Companies Inc. increased its holdings in SiBone by 22.5% during the third quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after buying an additional 521,683 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of SiBone by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after purchasing an additional 11,566 shares during the period. Nuveen LLC boosted its position in shares of SiBone by 5.1% in the fourth quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after purchasing an additional 69,229 shares during the period. Finally, Impax Asset Management Group plc boosted its position in shares of SiBone by 17.1% in the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock worth $23,664,000 after purchasing an additional 175,000 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. TD Cowen raised their price target on shares of SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Finally, Truist Financial cut their price target on shares of SiBone from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.00.

SiBone Trading Up 6.6%

NASDAQ:SIBN opened at $13.21 on Friday. SiBone has a one year low of $11.80 and a one year high of $21.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. The company’s 50-day simple moving average is $13.70 and its 200 day simple moving average is $16.22. The firm has a market capitalization of $584.46 million, a P/E ratio of -30.02 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. The business had revenue of $56.35 million for the quarter, compared to analyst estimates of $56.26 million. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. As a group, analysts forecast that SiBone will post -0.52 EPS for the current fiscal year.

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.