Insider Selling: SiBone (NASDAQ:SIBN) CFO Sells $42,702.66 in Stock

SiBone (NASDAQ:SIBN) CFO Anshul Maheshwari sold 3,318 shares of SiBone stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total transaction of $42,702.66. Following the sale, the chief financial officer directly owned 263,148 shares in the company, valued at $3,386,714.76. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Anshul Maheshwari also recently made the following trade(s):

• On Tuesday, February 17th, Anshul Maheshwari sold 21,528 shares of SiBone stock. The stock was sold at an average price of $15.37, for a total transaction of $330,885.36.

SiBone Price Performance

Shares of NASDAQ:SIBN opened at $13.12 on Monday. SiBone has a one year low of $12.15 and a one year high of $21.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. The company has a market cap of $579.51 million, a price-to-earnings ratio of -29.82 and a beta of 0.77. The firm has a 50 day simple moving average of $14.62 and a 200 day simple moving average of $16.39.

SiBone (NASDAQ:SIBN) last posted 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 net margin of 9.41% and a negative return on equity of 11.01%. The firm had revenue of $56.35 million for the quarter, compared to analysts’ expectations of $56.26 million. Research analysts predict that SiBone will post -0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC raised its position in shares of SiBone by 36.6% during the third quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company’s stock worth $7,128,000 after acquiring an additional 129,723 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in SiBone by 48.2% in the third quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock valued at $15,088,000 after acquiring an additional 333,249 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in SiBone by 337.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,369 shares of the company’s stock valued at $1,227,000 after purchasing an additional 64,322 shares during the period. Assenagon Asset Management S.A. bought a new position in SiBone during the 3rd quarter worth approximately $3,297,000. Finally, Divisadero Street Capital Management LP raised its holdings in SiBone by 17.8% during the 2nd quarter. Divisadero Street Capital Management LP now owns 339,791 shares of the company’s stock worth $6,395,000 after purchasing an additional 51,363 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SIBN has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Needham & Company LLC boosted their price target on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wall Street Zen raised SiBone from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Truist Financial reiterated a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of SiBone in a report on Tuesday, February 24th. Finally, TD Cowen lifted their target price on shares of SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, SiBone presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.67.

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.