SiBone (NASDAQ:SIBN) SVP Michael Pisetsky Sells 3,133 Shares of Company Stock

Key Points

• SiBone SVP Michael Pisetsky sold 3,133 shares at an average price of $18.17, generating $56,926.61. The sale covered tax-withholding obligations tied to vested equity awards and reduced his ownership by 1.14%.
• SiBone shares fell 1.3% to $19.55, while the company reported quarterly revenue of $56.01 million and an adjusted loss of $0.09 per share, beating analyst estimates on both measures.
• Analysts maintain a generally positive outlook, with six Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $24.17.

SiBone (NASDAQ:SIBN - Get Free Report) SVP Michael Pisetsky sold 3,133 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $18.17, for a total transaction of $56,926.61. Following the sale, the senior vice president directly owned 270,517 shares of the company's stock, valued at approximately $4,915,293.89. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Stock Down 1.3%

NASDAQ SIBN traded down $0.26 during trading hours on Tuesday, hitting $19.55. The company's stock had a trading volume of 538,730 shares, compared to its average volume of 582,763. The company has a market capitalization of $867.04 million, a PE ratio of -57.50 and a beta of 0.66. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89. The company's 50-day simple moving average is $18.77 and its two-hundred day simple moving average is $16.20.

SiBone (NASDAQ:SIBN - Get Free Report) last issued its quarterly earnings data 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 return on equity of 8.23% and a negative net margin of 6.85%.The business had revenue of $56.01 million for the quarter, compared to analysts' expectations of $55.34 million. Research analysts anticipate that SiBone will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

SIBN has been the topic of several research analyst reports. UBS Group upped their price objective on SiBone from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. TD Cowen lifted their price objective on SiBone from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Weiss Ratings upgraded SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 20th. Finally, Truist Financial reaffirmed a "buy" rating and set a $23.00 price objective (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.17.

Institutional Investors Weigh In On SiBone

A number of institutional investors and hedge funds have recently made changes to their positions in SIBN. Versant Capital Management Inc grew its position in SiBone by 102.9% during the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company's stock worth $29,000 after buying an additional 887 shares in the last quarter. State of Wyoming lifted its position in SiBone by 70.8% during the first quarter. State of Wyoming now owns 10,832 shares of the company's stock valued at $137,000 after purchasing an additional 4,490 shares during the last quarter. Inceptionr LLC purchased a new position in SiBone in the 1st quarter worth approximately $156,000. ADAR1 Capital Management LLC purchased a new stake in SiBone during the first quarter valued at about $159,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in SiBone in the first quarter worth approximately $204,000. Hedge funds and other institutional investors own 98.11% of the company's stock.

About SiBone

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company's technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.

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