SiBone (NASDAQ:SIBN) Insider Sells $112,353.85 in Stock

Key Points

• SiBone insider Anshul Maheshwari sold 5,747 shares at an average price of $19.55, generating $112,353.85. The sale reduced his stake by 2.28%, leaving him with 246,148 shares valued at about $4.81 million.
• SiBone shares traded at $19.96, near their 52-week high of $21.89, while the company reported quarterly revenue of $56.01 million and an adjusted loss of $0.09 per share, beating analysts’ estimates.
• Wall Street remains generally positive, with six analysts rating the stock a Buy and one rating it a Sell. The consensus rating is Moderate Buy, with an average price target of $24.17.

SiBone (NASDAQ:SIBN - Get Free Report) insider Anshul Maheshwari sold 5,747 shares of SiBone stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $19.55, for a total value of $112,353.85. Following the transaction, the insider directly owned 246,148 shares in the company, valued at approximately $4,812,193.40. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Anshul Maheshwari also recently made the following trade(s):

• On Friday, August 21st, Anshul Maheshwari sold 11,228 shares of SiBone stock. The shares were sold at an average price of $20.02, for a total value of $224,784.56.
• On Monday, August 17th, Anshul Maheshwari sold 4,665 shares of SiBone stock. The stock was sold at an average price of $18.65, for a total transaction of $87,002.25.
• On Thursday, July 2nd, Anshul Maheshwari sold 3,317 shares of SiBone stock. The shares were sold at an average price of $16.77, for a total transaction of $55,626.09.

SiBone Stock Performance

SIBN stock traded up $0.48 on Friday, hitting $19.96. The company's stock had a trading volume of 1,290,316 shares, compared to its average volume of 620,561. The stock has a market cap of $885.21 million, a price-to-earnings ratio of -58.71 and a beta of 0.66. The firm has a 50 day moving average of $17.40 and a two-hundred day moving average of $15.30. 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 1 year low of $11.48 and a 1 year high of $21.89.

SiBone (NASDAQ:SIBN - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $55.34 million. Equities analysts predict that SiBone will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On SiBone

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Light Asset Management LLC increased its holdings in shares of SiBone by 6.4% in the 1st quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company's stock valued at $67,611,000 after purchasing an additional 320,286 shares in the last quarter. Vanguard Group Inc. boosted its holdings in SiBone by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company's stock worth $49,331,000 after buying an additional 11,566 shares in the last quarter. Granahan Investment Management LLC grew its position in SiBone by 97.6% during the first quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company's stock worth $21,965,000 after buying an additional 858,942 shares during the period. Nuveen LLC grew its position in SiBone by 5.1% during the fourth quarter. Nuveen LLC now owns 1,421,946 shares of the company's stock worth $28,041,000 after buying an additional 69,229 shares during the period. Finally, Impax Asset Management Group plc increased its holdings in SiBone by 17.1% in the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company's stock valued at $23,664,000 after buying an additional 175,000 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.

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