Truist Financial Issues Pessimistic Forecast for SiBone (NASDAQ:SIBN) Stock Price

SiBone (NASDAQ:SIBN) had its price target dropped by equities research analysts at Truist Financial from $24.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 46.31% from the company’s current price.

SIBN has been the topic of a number of other research reports. Canaccord Genuity Group boosted their target price on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. TD Cowen boosted their target price on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Wall Street Zen upgraded SiBone from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Needham & Company LLC boosted their target price on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.00.

SiBone Price Performance

SIBN stock opened at $13.67 on Wednesday. The company has a market capitalization of $603.80 million, a P/E ratio of -31.07 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 has a 52-week low of $12.15 and a 52-week high of $21.89. The business has a 50-day simple moving average of $14.12 and a two-hundred day simple moving average of $16.32.

SiBone (NASDAQ:SIBN) last released its quarterly 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 business had revenue of $56.35 million during the quarter, compared to the consensus estimate of $56.26 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. Research analysts expect that SiBone will post -0.78 EPS for the current fiscal year.

Insider Transactions at SiBone

In other news, CEO Laura Francis sold 93,475 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total value of $1,432,037.00. Following the transaction, the chief executive officer owned 544,369 shares in the company, valued at $8,339,733.08. The trade was a 14.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 21,049 shares of SiBone stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.40, for a total transaction of $324,154.60. Following the completion of the sale, the insider directly owned 243,418 shares in the company, valued at $3,748,637.20. This trade represents a 7.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 167,697 shares of company stock worth $2,551,086. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On SiBone

A number of hedge funds have recently modified their holdings of the stock. Diversified Trust Co raised its holdings in shares of SiBone by 10.8% in the 1st quarter. Diversified Trust Co now owns 24,335 shares of the company’s stock worth $307,000 after purchasing an additional 2,375 shares during the period. Invesco Ltd. raised its holdings in shares of SiBone by 18.5% in the 4th quarter. Invesco Ltd. now owns 55,715 shares of the company’s stock worth $1,099,000 after purchasing an additional 8,706 shares during the period. Susquehanna Portfolio Strategies LLC raised its holdings in shares of SiBone by 579.2% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 105,365 shares of the company’s stock worth $2,078,000 after purchasing an additional 89,851 shares during the period. Tudor Investment Corp ET AL raised its holdings in shares of SiBone by 0.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 259,589 shares of the company’s stock worth $5,119,000 after purchasing an additional 1,557 shares during the period. Finally, Man Group plc bought a new stake in shares of SiBone in the 4th quarter worth approximately $965,000. 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.