SiBone (NASDAQ:SIBN) Sets New 52-Week Low – Here’s What Happened

Shares of SiBone (NASDAQ:SIBN) hit a new 52-week low during trading on Friday . The stock traded as low as $12.47 and last traded at $12.5850, with a volume of 33378 shares changing hands. The stock had previously closed at $12.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of SiBone from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley boosted their target price on shares of SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Canaccord Genuity Group upped their price target on shares of SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Finally, Needham & Company LLC lifted their price objective on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, SiBone currently has an average rating of “Moderate Buy” and an average target price of $24.67.

SiBone Stock Down 4.3%

The stock has a market cap of $542.85 million, a price-to-earnings ratio of -27.93 and a beta of 0.69. The stock has a 50 day simple moving average of $15.02 and a 200 day simple moving average of $16.48. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%.The company had revenue of $56.35 million for the quarter, compared to analyst estimates of $56.26 million. As a group, analysts expect that SiBone will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other SiBone news, CFO Anshul Maheshwari sold 21,528 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.37, for a total value of $330,885.36. Following the transaction, the chief financial officer directly owned 266,466 shares of the company’s stock, valued at approximately $4,095,582.42. This trade represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Pisetsky sold 20,756 shares of SiBone stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total transaction of $318,604.60. Following the transaction, the senior vice president owned 285,974 shares of the company’s stock, valued at $4,389,700.90. This represents a 6.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 193,611 shares of company stock valued at $3,136,244. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SiBone

A number of hedge funds have recently added to or reduced their stakes in SIBN. Royal Bank of Canada boosted its holdings in shares of SiBone by 98.5% in the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after buying an additional 736 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in SiBone by 0.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock worth $4,437,000 after buying an additional 997 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 period. Larson Financial Group LLC raised its position in 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 acquiring an additional 1,061 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in SiBone by 4.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock valued at $733,000 after acquiring an additional 1,459 shares during the last quarter. Institutional investors and hedge funds own 98.11% 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.