Engineers Gate Manager LP Sells 65,544 Shares of SiBone $SIBN

Key Points

• Engineers Gate Manager LP cut its SiBone stake by 69% in the second quarter, selling 65,544 shares and retaining 29,380 shares worth approximately $479,000. Institutional investors collectively own 98.11% of the company.
• SiBone reported quarterly revenue of $56.01 million and an adjusted loss of $0.09 per share, beating analyst estimates for both measures. The stock opened at $18.60, with a 52-week range of $11.48 to $21.89.
• Analysts remain broadly optimistic, with six Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $24.17. However, company insiders sold 165,231 shares worth about $3.19 million during the latest quarter.

Engineers Gate Manager LP decreased its holdings in SiBone (NASDAQ:SIBN - Free Report) by 69.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,380 shares of the company's stock after selling 65,544 shares during the quarter. Engineers Gate Manager LP owned about 0.07% of SiBone worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in shares of SiBone by 102.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company's stock worth $29,000 after purchasing an additional 887 shares during the period. State of Wyoming lifted its holdings in SiBone by 70.8% in the first quarter. State of Wyoming now owns 10,832 shares of the company's stock worth $137,000 after buying an additional 4,490 shares during the period. Inceptionr LLC purchased a new stake in SiBone in the first quarter worth about $156,000. ADAR1 Capital Management LLC bought a new stake in SiBone during the 1st quarter valued at approximately $159,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in SiBone during the 1st quarter valued at approximately $204,000. Institutional investors own 98.11% of the company's stock.

SiBone Stock Down 1.1%

Shares of SiBone stock opened at $18.60 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.55 and a current ratio of 9.15. The stock has a market capitalization of $824.89 million, a PE ratio of -54.71 and a beta of 0.70. SiBone has a 52-week low of $11.48 and a 52-week high of $21.89. The company has a 50-day simple moving average of $18.45 and a two-hundred day simple moving average of $15.85.

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

Analysts Set New Price Targets

A number of research firms have recently commented on SIBN. TD Cowen raised their target price on SiBone from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 20th. Truist Financial reissued a "buy" rating and set a $23.00 price objective (up from $21.00) on shares of SiBone in a research report on Tuesday, August 4th. Finally, UBS Group boosted their target price on shares of SiBone from $24.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.17.

Insiders Place Their Bets

In other SiBone news, CEO Laura Francis sold 25,972 shares of SiBone stock in a transaction on Monday, August 24th. The stock was sold at an average price of $20.12, for a total value of $522,556.64. Following the completion of the sale, the chief executive officer owned 291,491 shares of the company's stock, valued at approximately $5,864,798.92. This trade represents a 8.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anshul Maheshwari sold 11,636 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $20.11, for a total value of $233,999.96. Following the completion of the transaction, the insider owned 223,284 shares of the company's stock, valued at $4,490,241.24. This represents a 4.95% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 165,231 shares of company stock valued at $3,193,690. 4.00% of the stock is currently owned by company insiders.

SiBone Company Profile

SI-BONE, Inc NASDAQ: SIBN is a medical device company focused on developing and commercializing solutions for disorders of the sacroiliac joint and pelvic region. Its products are designed to support minimally invasive procedures that stabilize the sacroiliac joint and address sacroiliac joint dysfunction, degeneration, and related conditions.

The company's portfolio includes the iFuse Implant System, iFuse-3D implants, iFuse-TORQ implants, and the iFuse Bedrock Granite system for sacroiliac joint fusion and pelvic fixation.

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