SiBone (NASDAQ:SIBN) Sets New 52-Week High Following Analyst Upgrade

SiBone (NASDAQ:SIBN) hit a new 52-week high on Thursday after Truist Financial raised their price target on the stock from $21.00 to $23.00. Truist Financial currently has a buy rating on the stock. SiBone traded as high as $20.27 and last traded at $20.25, with a volume of 731079 shares traded. The stock had previously closed at $19.14.

SIBN has been the topic of several other reports. Needham & Company LLC lifted their price objective on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of SiBone in a research report on Monday. Morgan Stanley raised their target price on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Canaccord Genuity Group lifted their target price on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.00.

Insiders Place Their Bets

In related news, CEO Laura Francis sold 5,411 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $17.70, for a total transaction of $95,774.70. Following the completion of the transaction, the chief executive officer owned 351,319 shares of the company’s stock, valued at $6,218,346.30. This trade represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,833 shares of SiBone stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $17.44, for a total value of $66,847.52. Following the transaction, the insider directly owned 268,144 shares in the company, valued at approximately $4,676,431.36. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 147,128 shares of company stock valued at $2,698,252. 4.00% of the stock is currently owned by insiders.

Institutional Trading of SiBone

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. increased its holdings in shares of SiBone by 7.7% in the second quarter. Harbor Capital Advisors Inc. now owns 573,705 shares of the company’s stock valued at $10,797,000 after buying an additional 40,993 shares in the last quarter. Palumbo Wealth Management LLC acquired a new position in shares of SiBone in the 2nd quarter worth $577,000. Goldman Sachs Group Inc. raised its position in shares of SiBone by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock worth $5,328,000 after purchasing an additional 83,919 shares during the period. Divisadero Street Capital Management LP lifted its holdings in shares of SiBone by 17.8% during the second quarter. Divisadero Street Capital Management LP now owns 339,791 shares of the company’s stock valued at $6,395,000 after purchasing an additional 51,363 shares during the last quarter. Finally, Trexquant Investment LP lifted its holdings in shares of SiBone by 31.1% during the first quarter. Trexquant Investment LP now owns 115,114 shares of the company’s stock valued at $1,615,000 after purchasing an additional 27,331 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors.

SiBone Price Performance

The stock has a 50-day moving average of $17.31 and a two-hundred day moving average of $16.86. The firm has a market cap of $878.67 million, a price-to-earnings ratio of -39.71 and a beta of 0.76. The company has a current ratio of 7.97, a quick ratio of 6.62 and a debt-to-equity ratio of 0.21.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. The firm had revenue of $48.66 million for the quarter, compared to the consensus estimate of $46.67 million. SiBone had a negative return on equity of 12.86% and a negative net margin of 11.24%. On average, analysts anticipate that SiBone will post -0.78 EPS for the current year.

SiBone Company Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.