SiBone (NASDAQ:SIBN) Hits New 52-Week Low - Time to Sell?

Key Points

• 52-week low: SiBone shares hit a new 52-week low of $12.10 (last $12.165) and are trading below their 50- and 200-day moving averages ($13.84 and $16.27), with a market cap of about $535.6M and a negative PE.
• Analyst view: The consensus is a "Moderate Buy" (six Buys, one Sell) with an average price target of $24, though recent notes include both upgrades and downgrades.
• Insider and institutional activity: Insiders sold 167,697 shares (~$2.55M) over the last quarter (including sales by the SVP and CFO) while institutional ownership is very high at ~98.11%.

Shares of SiBone (NASDAQ:SIBN - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $12.10 and last traded at $12.1650, with a volume of 15964 shares traded. The stock had previously closed at $12.36.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SIBN. TD Cowen raised their price target on shares of SiBone from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Truist Financial decreased their price target on shares of SiBone from $24.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Finally, Wall Street Zen lowered shares of SiBone from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

SiBone Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55. The stock has a market cap of $535.57 million, a PE ratio of -27.51 and a beta of 0.77. The stock's 50-day moving average is $13.84 and its two-hundred day moving average is $16.27.

SiBone (NASDAQ:SIBN - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.09. The firm had revenue of $56.35 million during the quarter, compared to analysts' expectations of $56.26 million. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. On average, equities analysts predict that SiBone will post -0.52 earnings per share for the current year.

Insider Transactions at SiBone

In related news, SVP Michael A. Pisetsky sold 20,756 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total value of $318,604.60. Following the completion of the sale, the senior vice president directly owned 285,974 shares of the company's stock, valued at $4,389,700.90. The trade was a 6.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 3,318 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total transaction of $42,702.66. Following the completion of the sale, the chief financial officer directly owned 263,148 shares of the company's stock, valued at approximately $3,386,714.76. This trade represents a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 167,697 shares of company stock valued at $2,551,086 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company's stock worth $343,000 after purchasing an additional 1,053 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in SiBone during the first quarter worth about $225,000. Goldman Sachs Group Inc. raised its holdings in SiBone by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company's stock worth $5,328,000 after purchasing an additional 83,919 shares in the last quarter. Jane Street Group LLC purchased a new position in SiBone during the first quarter worth about $1,818,000. Finally, Legal & General Group Plc raised its holdings in SiBone by 16.1% during the second quarter. Legal & General Group Plc now owns 42,403 shares of the company's stock worth $798,000 after purchasing an additional 5,888 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

About SiBone

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.