SiBone (NASDAQ:SIBN) Receives $23.00 Average Price Target from Brokerages

SiBone (NASDAQ:SIBN) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $23.50.

Several equities analysts have recently weighed in on SIBN shares. Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. TD Cowen cut their price objective on SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SiBone in a research report on Thursday, July 2nd. Finally, Truist Financial increased their target price on SiBone from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday.

Insider Buying and Selling at SiBone

In other news, CEO Laura Francis sold 14,957 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $14.71, for a total transaction of $220,017.47. Following the completion of the sale, the chief executive officer owned 503,444 shares of the company’s stock, valued at $7,405,661.24. This represents a 2.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey W. Dunn sold 3,575 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $15.25, for a total transaction of $54,518.75. Following the completion of the transaction, the director owned 16,057 shares in the company, valued at $244,869.25. This trade represents a 18.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 36,326 shares of company stock worth $545,661. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SIBN. Versant Capital Management Inc grew its position in shares of SiBone by 102.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after acquiring an additional 887 shares during the period. Bank of America Corp DE increased its stake in shares of SiBone by 8.7% in the 1st quarter. Bank of America Corp DE now owns 419,473 shares of the company’s stock worth $5,298,000 after purchasing an additional 33,688 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in SiBone in the 1st quarter worth $159,000. Quantinno Capital Management LP raised its holdings in SiBone by 58.2% in the 1st quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock worth $372,000 after purchasing an additional 10,848 shares during the period. Finally, First Light Asset Management LLC lifted its position in SiBone by 6.4% during the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after purchasing an additional 320,286 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors.

SiBone Stock Down 1.9%

Shares of SiBone stock opened at $17.38 on Wednesday. The company has a market cap of $770.80 million, a price-to-earnings ratio of -44.56 and a beta of 0.67. The company’s 50 day moving average is $15.61 and its 200 day moving average is $15.34. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.07. The company had revenue of $52.59 million for the quarter, compared to analysts’ expectations of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. Research analysts anticipate that SiBone will post -0.44 EPS for the current year.

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.