SiBone (NASDAQ:SIBN) Sets New 1-Year Low – Time to Sell?

SiBone (NASDAQ:SIBN) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $11.68 and last traded at $12.0650, with a volume of 414649 shares changing hands. The stock had previously closed at $12.27.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. 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. Truist Financial cut their price objective on shares of SiBone from $24.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Finally, Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SiBone presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

SiBone Stock Performance

The business’s fifty day moving average is $13.56 and its two-hundred day moving average is $16.19. 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 stock has a market capitalization of $515.89 million, a PE ratio of -26.50 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last posted its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. The firm had revenue of $52.59 million during the quarter, compared to analyst estimates of $51.16 million. As a group, research analysts anticipate that SiBone will post -0.52 EPS for the current fiscal year.

Insider Transactions at SiBone

In related news, SVP Michael A. Pisetsky sold 20,756 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total value of $318,604.60. Following the completion of the transaction, the senior vice president directly owned 285,974 shares of the company’s stock, valued at approximately $4,389,700.90. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony J. Recupero sold 21,049 shares of SiBone stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.40, for a total transaction of $324,154.60. Following the transaction, the insider directly owned 243,418 shares of the company’s stock, valued at $3,748,637.20. The trade was a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 167,697 shares of company stock valued at $2,549,984 in the last 90 days. Company insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

Several institutional investors and hedge funds have recently made changes to their positions in SIBN. ANTIPODES PARTNERS Ltd bought a new stake in shares of SiBone during the fourth quarter worth $29,000. Royal Bank of Canada lifted its position in shares of SiBone by 98.5% during the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after purchasing an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of SiBone by 64,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock worth $38,000 after purchasing an additional 1,941 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of SiBone during the third quarter worth $39,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of SiBone during the fourth quarter worth $53,000. 98.11% of the stock is currently owned by institutional investors.

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.