Insider Selling: SiBone (NASDAQ:SIBN) Director Sells 3,500 Shares of Stock

SiBone (NASDAQ:SIBN) Director Timothy Davis, Jr. sold 3,500 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $14.14, for a total transaction of $49,490.00. Following the completion of the transaction, the director directly owned 65,722 shares in the company, valued at $929,309.08. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

SiBone Stock Performance

SIBN traded down $0.23 during trading on Monday, hitting $13.87. The stock had a trading volume of 619,291 shares, compared to its average volume of 658,591. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The firm has a market capitalization of $615.13 million, a P/E ratio of -35.56 and a beta of 0.70. The company’s 50-day moving average price is $13.53 and its 200 day moving average price is $16.06. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings data 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 company had revenue of $52.59 million for the quarter, compared to analysts’ expectations 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 research analysts forecast that SiBone will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On SiBone

Several hedge funds have recently modified their holdings of SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SiBone by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after acquiring an additional 1,053 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SiBone in the first quarter worth approximately $225,000. Goldman Sachs Group Inc. boosted its position in shares of SiBone by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock worth $5,328,000 after acquiring an additional 83,919 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of SiBone in the first quarter worth approximately $1,818,000. Finally, Legal & General Group Plc boosted its position in shares of SiBone by 16.1% in the second quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock worth $798,000 after acquiring an additional 5,888 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SIBN. TD Cowen lowered their price objective on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Truist Financial reissued a “buy” rating and issued a $18.00 price objective (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

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.