First Light Asset Management LLC Acquires 475,426 Shares of SiBone $SIBN

Key Points

• First Light Asset Management LLC has increased its stake in SiBone by 41.8%, acquiring an additional 475,426 shares and making SiBone its 15th largest holding.
• Several hedge funds have initiated or increased their positions in SiBone, with institutional investors owning 98.11% of the company's stock.
• SiBone reported a loss of ($0.14) EPS for the latest quarter, surpassing analysts' expectations and achieving revenue of $48.63 million.

First Light Asset Management LLC lifted its position in shares of SiBone (NASDAQ:SIBN - Free Report) by 41.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,612,408 shares of the company's stock after acquiring an additional 475,426 shares during the period. SiBone accounts for 2.6% of First Light Asset Management LLC's portfolio, making the stock its 15th biggest holding. First Light Asset Management LLC owned about 3.78% of SiBone worth $22,622,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of SiBone by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,373 shares of the company's stock worth $328,000 after acquiring an additional 988 shares during the last quarter. Invesco Ltd. grew its position in shares of SiBone by 8.9% during the fourth quarter. Invesco Ltd. now owns 17,203 shares of the company's stock worth $241,000 after acquiring an additional 1,413 shares during the last quarter. Rhumbline Advisers grew its position in shares of SiBone by 3.6% during the first quarter. Rhumbline Advisers now owns 59,721 shares of the company's stock worth $838,000 after acquiring an additional 2,100 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of SiBone during the first quarter worth about $34,000. Finally, EntryPoint Capital LLC grew its position in shares of SiBone by 21.5% during the first quarter. EntryPoint Capital LLC now owns 14,787 shares of the company's stock worth $207,000 after acquiring an additional 2,613 shares during the last quarter. Institutional investors own 98.11% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SIBN. Wall Street Zen lowered shares of SiBone from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Cantor Fitzgerald set a $25.00 target price on shares of SiBone and gave the company an "overweight" rating in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $23.67.

SiBone Trading Down 0.4%

SIBN stock traded down $0.06 during mid-day trading on Friday, reaching $16.29. 240,114 shares of the stock traded hands, compared to its average volume of 326,750. The company has a current ratio of 8.38, a quick ratio of 7.00 and a debt-to-equity ratio of 0.21. SiBone has a 52-week low of $11.70 and a 52-week high of $20.05. The company has a market cap of $702.75 million, a P/E ratio of -29.09 and a beta of 0.81. The stock's fifty day moving average is $16.88 and its 200-day moving average is $16.50.

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

Insiders Place Their Bets

In other news, SVP Michael A. Pisetsky sold 3,329 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $15.64, for a total value of $52,065.56. Following the completion of the sale, the senior vice president directly owned 258,352 shares of the company's stock, valued at $4,040,625.28. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 3,461 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $15.57, for a total transaction of $53,887.77. Following the completion of the sale, the chief financial officer directly owned 214,445 shares of the company's stock, valued at $3,338,908.65. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,590 shares of company stock valued at $765,137 over the last ninety days. Insiders own 4.00% of the company's stock.

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.