Anshul Maheshwari Sells 4,665 Shares of SiBone (NASDAQ:SIBN) Stock

Key Points

• SiBone CFO Anshul Maheshwari sold 4,665 shares at an average price of $18.65, totaling $87,002.25. The sale covered tax withholding tied to vested equity awards and reduced his holdings by 1.82% to 251,895 shares.
• SiBone shares recently traded at $19.14, near the upper half of their 52-week range. The company reported quarterly revenue of $56.01 million and an adjusted loss of $0.09 per share, beating analyst estimates.
• Analyst sentiment remains positive, with six Buy ratings and one Sell rating, a “Moderate Buy” consensus, and an average price target of $24.17. Institutional investors own approximately 98.11% of the company.

SiBone (NASDAQ:SIBN - Get Free Report) CFO Anshul Maheshwari sold 4,665 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $18.65, for a total value of $87,002.25. Following the completion of the sale, the chief financial officer directly owned 251,895 shares in the company, valued at $4,697,841.75. This trade represents a 1.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 Stock Performance

Shares of SIBN stock traded up $0.45 during trading hours on Tuesday, reaching $19.14. 499,053 shares of the company's stock were exchanged, compared to its average volume of 618,122. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $848.84 million, a P/E ratio of -56.29 and a beta of 0.66. The business has a fifty day moving average price of $17.15 and a 200-day moving average price of $15.23.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.06. The business had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. Analysts predict that SiBone will post -0.4 EPS for the current fiscal year.

Institutional Trading of SiBone

Several institutional investors have recently bought and sold shares of the stock. First Light Asset Management LLC grew its position in SiBone by 162.4% in the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company's stock valued at $99,249,000 after acquiring an additional 3,115,001 shares during the period. Granahan Investment Management LLC lifted its holdings in shares of SiBone by 97.6% during the first quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company's stock valued at $21,965,000 after acquiring an additional 858,942 shares during the period. Paradigm Capital Management Inc. NY boosted its stake in shares of SiBone by 113.3% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company's stock valued at $14,228,000 after purchasing an additional 598,300 shares in the last quarter. Cadian Capital Management LP boosted its stake in shares of SiBone by 96.8% in the 4th quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company's stock valued at $23,094,000 after purchasing an additional 576,100 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of SiBone by 74.7% in the 3rd quarter. Wellington Management Group LLP now owns 853,266 shares of the company's stock valued at $12,560,000 after purchasing an additional 364,897 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SIBN. UBS Group increased their target price on shares of SiBone from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Truist Financial restated a "buy" rating and set a $23.00 price target (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Weiss Ratings cut SiBone from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, August 5th. Finally, TD Cowen raised their price objective on SiBone from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.17.

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.

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