SiBone (NASDAQ:SIBN) Shares Down 6.8% – What’s Next?

SiBone (NASDAQ:SIBN)’s share price was down 6.8% during trading on Friday . The company traded as low as $12.82 and last traded at $12.7650. Approximately 417,589 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 607,897 shares. The stock had previously closed at $13.69.

Analyst Ratings Changes

A number of equities analysts recently commented on SIBN shares. Truist Financial reaffirmed a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of SiBone in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. Canaccord Genuity Group raised their price objective on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. TD Cowen raised their price objective on shares of SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Finally, Needham & Company LLC raised their price objective on shares of SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

SiBone Stock Down 6.2%

The business’s 50 day simple moving average is $14.27 and its 200-day simple moving average is $16.33. The company has a market cap of $567.14 million, a price-to-earnings ratio of -29.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55.

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

Insider Activity at SiBone

In other SiBone news, insider Anthony J. Recupero sold 21,049 shares of SiBone stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.40, for a total transaction of $324,154.60. Following the completion of the sale, the insider owned 243,418 shares of the company’s stock, valued at $3,748,637.20. This trade represents a 7.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Pisetsky sold 20,756 shares of SiBone stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total transaction of $318,604.60. Following the sale, the senior vice president directly owned 285,974 shares of the company’s stock, valued at $4,389,700.90. This trade represents a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 167,697 shares of company stock worth $2,551,086. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SIBN. First Light Asset Management LLC raised its holdings in shares of SiBone by 162.4% during the 4th quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock valued at $99,249,000 after purchasing an additional 3,115,001 shares in the last quarter. Cadian Capital Management LP raised its holdings in shares of SiBone by 96.8% during the 4th quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock valued at $23,094,000 after purchasing an additional 576,100 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of SiBone by 22.5% during the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after purchasing an additional 521,683 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of SiBone by 74.7% during the 3rd quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock valued at $12,560,000 after purchasing an additional 364,897 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of SiBone by 48.2% during the 3rd quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock valued at $15,088,000 after purchasing an additional 333,249 shares in the last quarter. Institutional investors 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.