SiBone (NASDAQ:SIBN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of SiBone (NASDAQ:SIBN) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $24.3333.

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Morgan Stanley lifted their price target on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Truist Financial boosted their price target on SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. TD Cowen upgraded SiBone to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Needham & Company LLC lifted 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.

SiBone Stock Performance

Shares of NASDAQ SIBN opened at $15.33 on Friday. The company has a market capitalization of $665.18 million, a P/E ratio of -30.06 and a beta of 0.69. The business’s 50-day moving average price is $18.18 and its two-hundred day moving average price is $16.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62. SiBone has a one year low of $12.49 and a one year high of $21.89.

Insider Buying and Selling at SiBone

In other SiBone news, CFO Anshul Maheshwari sold 18,542 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $20.15, for a total value of $373,621.30. Following the sale, the chief financial officer owned 185,231 shares in the company, valued at $3,732,404.65. This trade represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Laura Francis sold 11,341 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $17.43, for a total value of $197,673.63. Following the completion of the sale, the chief executive officer owned 408,363 shares in the company, valued at $7,117,767.09. This trade represents a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 119,918 shares of company stock worth $2,341,576 over the last 90 days. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiBone

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. purchased a new position in shares of SiBone in the 3rd quarter worth approximately $3,297,000. Y Intercept Hong Kong Ltd boosted its holdings in SiBone by 337.7% in the third 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 last quarter. Impax Asset Management Group plc lifted its holdings in shares of SiBone by 48.2% in 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 buying an additional 333,249 shares during the period. Divisadero Street Capital Management LP grew its stake in shares of 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 period. Finally, Peregrine Capital Management LLC purchased a new stake in shares of SiBone during the 2nd quarter worth about $6,664,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

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.