Insider Selling: SiBone (NASDAQ:SIBN) SVP Sells 3,133 Shares of Stock

SiBone (NASDAQ:SIBN) SVP Michael Pisetsky sold 3,133 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $18.17, for a total transaction of $56,926.61. Following the completion of the transaction, the senior vice president owned 270,517 shares in the company, valued at $4,915,293.89. This represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Trading Down 1.3%

SIBN traded down $0.26 during trading on Tuesday, hitting $19.55. 538,730 shares of the stock traded hands, compared to its average volume of 582,763. The firm has a market capitalization of $867.04 million, a P/E ratio of -57.50 and a beta of 0.66. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55. The firm has a 50-day moving average of $18.77 and a 200 day moving average of $16.20.

SiBone (NASDAQ:SIBN) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. The firm had revenue of $56.01 million for the quarter, compared to analysts’ expectations of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. Equities research analysts anticipate that SiBone will post -0.4 EPS for the current year.

Hedge Funds Weigh In On SiBone

A number of institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in SiBone by 102.9% during the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after buying an additional 887 shares during the period. State of Wyoming grew its position in shares of SiBone by 70.8% in the 1st quarter. State of Wyoming now owns 10,832 shares of the company’s stock worth $137,000 after buying an additional 4,490 shares during the period. Inceptionr LLC bought a new position in shares of SiBone in the 1st quarter worth about $156,000. ADAR1 Capital Management LLC bought a new stake in SiBone during the first quarter worth about $159,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in SiBone in the first quarter worth about $204,000. Institutional investors own 98.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Truist Financial restated a “buy” rating and issued a $23.00 price objective (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. TD Cowen raised their target price on shares of SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, UBS Group boosted their price target on shares of SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

About SiBone

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company’s technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.