Anshul Maheshwari Sells 11,228 Shares of SiBone (NASDAQ:SIBN) Stock

Key Points

• SiBone insider Anshul Maheshwari sold 11,228 shares at an average price of $20.02, generating $224,784.56. He retained 234,920 shares, while also reporting several earlier sales.
• SiBone shares traded near $19.96, with the stock up strongly from its 50-day and 200-day moving averages. The company recently beat quarterly earnings and revenue expectations, though it remains unprofitable.
• Analysts maintain a generally positive outlook, with six Buy ratings and one Sell rating and a consensus price target of $24.17. Institutional investors own approximately 98.11% of the company.

SiBone (NASDAQ:SIBN - Get Free Report) insider Anshul Maheshwari sold 11,228 shares of SiBone stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $20.02, for a total transaction of $224,784.56. Following the completion of the sale, the insider owned 234,920 shares of the company's stock, valued at $4,703,098.40. This trade represents a 4.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anshul Maheshwari also recently made the following trade(s):

• On Wednesday, August 19th, Anshul Maheshwari sold 5,747 shares of SiBone stock. The stock was sold at an average price of $19.55, for a total transaction of $112,353.85.
• On Monday, August 17th, Anshul Maheshwari sold 4,665 shares of SiBone stock. The shares were sold at an average price of $18.65, for a total value of $87,002.25.
• On Thursday, July 2nd, Anshul Maheshwari sold 3,317 shares of SiBone stock. The stock was sold at an average price of $16.77, for a total value of $55,626.09.

SiBone Price Performance

SiBone stock traded up $0.48 during mid-day trading on Friday, reaching $19.96. 1,290,316 shares of the company were exchanged, compared to its average volume of 620,561. The company has a fifty day simple moving average of $17.40 and a 200-day simple moving average of $15.30. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55. The firm has a market cap of $885.21 million, a PE ratio of -58.71 and a beta of 0.66.

SiBone (NASDAQ:SIBN - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.06. The firm had revenue of $56.01 million during the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. As a group, equities research analysts expect that SiBone will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of SiBone from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. TD Cowen boosted their target price on shares of SiBone from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Truist Financial reaffirmed a "buy" rating and set a $23.00 price target (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.17.

Institutional Trading of SiBone

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in SiBone by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company's stock valued at $343,000 after acquiring an additional 1,053 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of SiBone in the first quarter worth about $225,000. Goldman Sachs Group Inc. boosted its stake in shares of SiBone by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company's stock valued at $5,328,000 after purchasing an additional 83,919 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of SiBone in the 1st quarter valued at approximately $1,818,000. Finally, Legal & General Group Plc grew its holdings in shares of SiBone by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company's stock valued at $798,000 after purchasing an additional 5,888 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

SiBone Company Profile

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.

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