AlphaQuest LLC Raises Position in SiBone $SIBN

Key Points

• AlphaQuest LLC increased its stake in SiBone by 220.9% during the first quarter, purchasing an additional 25,764 shares, bringing its total holdings to 37,426 shares valued at approximately $525,000.
• Institutional investors now own 98.11% of SiBone, with several hedge funds, such as Russell Investments Group Ltd., increasing their stakes significantly, exemplified by a 765.3% increase in their holdings.
• SiBone's stock recently experienced a 2.1% decline, currently trading at $16.05, with analysts maintaining a consensus "Buy" rating and an average target price of $23.67.

AlphaQuest LLC lifted its stake in shares of SiBone (NASDAQ:SIBN - Free Report) by 220.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,426 shares of the company's stock after buying an additional 25,764 shares during the period. AlphaQuest LLC owned about 0.09% of SiBone worth $525,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in SiBone by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,373 shares of the company's stock valued at $328,000 after purchasing an additional 988 shares during the period. Invesco Ltd. increased its holdings in SiBone by 8.9% in the fourth quarter. Invesco Ltd. now owns 17,203 shares of the company's stock valued at $241,000 after purchasing an additional 1,413 shares during the period. Rhumbline Advisers increased its holdings in SiBone by 3.6% in the first quarter. Rhumbline Advisers now owns 59,721 shares of the company's stock valued at $838,000 after purchasing an additional 2,100 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in SiBone in the first quarter valued at $34,000. Finally, Barclays PLC increased its holdings in SiBone by 2.7% in the fourth quarter. Barclays PLC now owns 99,212 shares of the company's stock valued at $1,391,000 after purchasing an additional 2,589 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SiBone Stock Up 0.2%

NASDAQ SIBN traded up $0.03 during trading hours on Thursday, hitting $16.62. The company's stock had a trading volume of 250,633 shares, compared to its average volume of 513,233. SiBone has a 52 week low of $11.70 and a 52 week high of $20.05. The company has a market capitalization of $716.99 million, a PE ratio of -29.68 and a beta of 0.91. The company has a current ratio of 8.38, a quick ratio of 7.00 and a debt-to-equity ratio of 0.21. The company's 50-day simple moving average is $17.01 and its two-hundred day simple moving average is $16.51.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. SiBone had a negative net margin of 12.83% and a negative return on equity of 14.20%. The business had revenue of $48.63 million for the quarter, compared to analysts' expectations of $48.12 million. SiBone has set its FY 2025 guidance at EPS. Research analysts anticipate that SiBone will post -0.78 EPS for the current fiscal year.

Insider Transactions at SiBone

In other SiBone news, CFO Anshul Maheshwari sold 3,461 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.57, for a total value of $53,887.77. Following the completion of the sale, the chief financial officer owned 214,445 shares in the company, valued at approximately $3,338,908.65. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Gordon Freund sold 12,132 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $15.99, for a total transaction of $193,990.68. Following the completion of the sale, the director owned 91,767 shares of the company's stock, valued at approximately $1,467,354.33. This trade represents a 11.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,967 shares of company stock worth $829,469. Company insiders own 4.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on SIBN shares. Needham & Company LLC reiterated a "buy" rating and set a $24.00 price target on shares of SiBone in a report on Tuesday, May 6th. Truist Financial increased their price target on SiBone from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Cantor Fitzgerald set a $25.00 price target on SiBone and gave the stock an "overweight" rating in a report on Monday, August 11th. Finally, Wall Street Zen downgraded SiBone from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $23.67.

SiBone Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.