SiBone $SIBN Stake Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in SiBone (NASDAQ:SIBN) by 32.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,619 shares of the company’s stock after selling 87,788 shares during the period. JPMorgan Chase & Co. owned 0.43% of SiBone worth $2,732,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SIBN. American Century Companies Inc. grew its stake in SiBone by 22.5% during the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock worth $41,777,000 after buying an additional 521,683 shares during the last quarter. Vanguard Group Inc. lifted its stake in SiBone by 1.7% in the third quarter. Vanguard Group Inc. now owns 2,489,989 shares of the company’s stock valued at $36,653,000 after buying an additional 41,449 shares during the last quarter. First Light Asset Management LLC boosted its holdings in shares of SiBone by 9.5% during the third quarter. First Light Asset Management LLC now owns 1,917,903 shares of the company’s stock valued at $28,232,000 after acquiring an additional 166,902 shares during the period. Impax Asset Management Group plc grew its position in shares of SiBone by 48.2% during the third quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock worth $15,088,000 after acquiring an additional 333,249 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of SiBone by 74.7% during the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock worth $12,560,000 after acquiring an additional 364,897 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey W. Dunn sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $21.28, for a total value of $425,600.00. Following the completion of the transaction, the director directly owned 80,115 shares in the company, valued at $1,704,847.20. This trade represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony J. Recupero sold 21,049 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 243,418 shares in the company, valued at $3,748,637.20. This represents a 7.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 187,697 shares of company stock valued at $2,976,686. 4.00% of the stock is currently owned by insiders.

SiBone Price Performance

Shares of NASDAQ SIBN opened at $13.12 on Monday. The stock has a market cap of $579.51 million, a P/E ratio of -29.82 and a beta of 0.77. The firm’s 50-day simple moving average is $14.62 and its 200 day simple moving average is $16.39. SiBone has a fifty-two week low of $12.15 and a fifty-two week high of $21.89. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last announced 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 firm 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%. Equities analysts expect that SiBone will post -0.78 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on SIBN. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Canaccord Genuity Group upped their target price on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Wall Street Zen upgraded shares of SiBone from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Truist Financial reaffirmed a “buy” rating and set a $24.00 price target (up from $23.00) on shares of SiBone in a report on Tuesday, February 24th. Finally, TD Cowen boosted their price objective on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.67.

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.