Granahan Investment Management LLC Sells 201,865 Shares of SiBone $SIBN

Key Points

• Granahan Investment Management LLC has decreased its stake in SiBone by 12.3%, now holding approximately 1,432,701 shares and accounting for 1.0% of its holdings.
• Several institutional investors, including ANTIPODES PARTNERS Ltd and Johnson Investment Counsel, have recently acquired new positions in SiBone, reflecting significant investor interest as institutional ownership reaches 98.11%.
• Wall Street analysts have varied opinions on SiBone, with ratings ranging from a downgrade to "hold" by Wall Street Zen and a target price of $25.00 set by Cantor Fitzgerald.

Granahan Investment Management LLC reduced its position in SiBone (NASDAQ:SIBN - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,432,701 shares of the company's stock after selling 201,865 shares during the period. SiBone comprises approximately 1.0% of Granahan Investment Management LLC's holdings, making the stock its 27th largest position. Granahan Investment Management LLC owned approximately 3.36% of SiBone worth $20,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in SiBone by 4.4% during 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 in the last quarter. Rhumbline Advisers lifted its stake 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 acquiring an additional 2,100 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in SiBone in the first quarter valued at approximately $34,000. EntryPoint Capital LLC lifted its stake in SiBone by 21.5% in the first quarter. EntryPoint Capital LLC now owns 14,787 shares of the company's stock valued at $207,000 after acquiring an additional 2,613 shares during the last quarter. Finally, Virtus Fund Advisers LLC acquired a new stake in SiBone in the fourth quarter valued at approximately $40,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Anshul Maheshwari sold 3,461 shares of the company's 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 sale, the chief financial officer owned 214,445 shares of the company's stock, valued at approximately $3,338,908.65. This represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Pisetsky sold 3,329 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.64, for a total transaction of $52,065.56. Following the completion of the sale, the senior vice president directly owned 258,352 shares in the company, valued at approximately $4,040,625.28. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,590 shares of company stock worth $765,137 in the last quarter. 3.90% of the stock is owned by corporate insiders.

SiBone Stock Performance

SiBone stock traded down $0.39 on Wednesday, hitting $15.65. The company's stock had a trading volume of 68,435 shares, compared to its average volume of 418,755. The firm has a market cap of $675.16 million, a P/E ratio of -27.94 and a beta of 0.81. The company has a quick ratio of 7.00, a current ratio of 8.38 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $16.78 and a 200-day moving average price of $16.46. SiBone has a one year low of $11.70 and a one year high of $20.05.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The firm had revenue of $48.63 million for 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. On average, equities analysts anticipate that SiBone will post -0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

SiBone Company 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.