Nano Cap New Millennium Growth Fund L P Invests $838,000 in SiBone $SIBN

Nano Cap New Millennium Growth Fund L P purchased a new position in SiBone (NASDAQ:SIBN) during the 4th quarter, HoldingsChannel reports. The fund purchased 42,500 shares of the company’s stock, valued at approximately $838,000.

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of SiBone by 1,443.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,305 shares of the company’s stock worth $85,000 after purchasing an additional 4,026 shares during the period. Larson Financial Group LLC increased its holdings in shares of SiBone by 42.3% in the fourth quarter. Larson Financial Group LLC now owns 3,569 shares of the company’s stock worth $70,000 after purchasing an additional 1,061 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in SiBone in the fourth quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. raised its stake in SiBone by 142,828.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 155,792 shares of the company’s stock valued at $3,072,000 after purchasing an additional 155,683 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in SiBone during the fourth quarter valued at approximately $197,000. Institutional investors own 98.11% of the company’s stock.

SiBone Stock Performance

NASDAQ SIBN opened at $14.81 on Friday. The company has a 50-day simple moving average of $13.38 and a two-hundred day simple moving average of $16.10. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The firm has a market cap of $656.82 million, a price-to-earnings ratio of -37.97 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business had revenue of $52.59 million during the quarter, compared to analyst estimates of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. On average, equities analysts forecast that SiBone will post -0.44 EPS for the current year.

Analyst Upgrades and Downgrades

SIBN has been the subject of several research reports. Truist Financial reiterated a “buy” rating and issued a $18.00 target price (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, TD Cowen cut their target price on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Six 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Insider Activity

In other news, CFO Anshul Maheshwari sold 3,318 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total transaction of $42,702.66. Following the completion of the sale, the chief financial officer directly owned 263,148 shares in the company, valued at approximately $3,386,714.76. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Laura Francis sold 14,957 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $14.71, for a total transaction of $220,017.47. Following the sale, the chief executive officer owned 503,444 shares of the company’s stock, valued at approximately $7,405,661.24. This represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 29,572 shares of company stock valued at $418,831. Company insiders own 4.00% of the company’s stock.

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.