SiBone (NASDAQ:SIBN) Stock Price Down 13.1% - Time to Sell?

Key Points

• SiBone's shares fell by 13.1% to $15.55 amid trading, with an 80% drop in volume compared to its average.
• Analysts have set new price targets for SiBone, with ratings ranging from a "buy" at $24.00 to "overweight" at $25.00.
• The company's recent financial report showed earnings per share of ($0.14), exceeding consensus estimates by $0.05, and revenue of $48.63 million, surpassing projections as well.

SiBone (NASDAQ:SIBN - Get Free Report)'s stock price fell 13.1% during trading on Tuesday . The company traded as low as $15.79 and last traded at $15.55. 85,135 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 416,883 shares. The stock had previously closed at $17.90.

Wall Street Analyst Weigh In

Several analysts have commented on SIBN shares. Needham & Company LLC reissued a "buy" rating and issued a $24.00 target price on shares of SiBone in a research report on Tuesday, May 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $25.00 price objective on shares of SiBone in a research note on Tuesday. Finally, Truist Financial upped their target price on shares of SiBone from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th.

SiBone Trading Down 1.9%

The business has a 50 day moving average of $17.80 and a two-hundred day moving average of $16.63. The company has a current ratio of 8.53, a quick ratio of 7.26 and a debt-to-equity ratio of 0.21. The firm has a market cap of $686.10 million, a P/E ratio of -28.72 and a beta of 0.91.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. SiBone had a negative net margin of 12.83% and a negative return on equity of 14.28%. The business had revenue of $48.63 million for the quarter, compared to analysts' expectations of $48.12 million. Analysts predict that SiBone will post -0.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Anshul Maheshwari sold 9,585 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $19.76, for a total value of $189,399.60. Following the sale, the chief financial officer directly owned 224,507 shares of the company's stock, valued at $4,436,258.32. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Dunn sold 3,377 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $19.05, for a total transaction of $64,331.85. Following the completion of the transaction, the director owned 17,354 shares of the company's stock, valued at approximately $330,593.70. The trade was a 16.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,218 shares of company stock worth $1,121,435. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiBone

A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its position in SiBone by 11.1% during the 1st quarter. American Century Companies Inc. now owns 2,642,322 shares of the company's stock worth $37,072,000 after purchasing an additional 264,254 shares during the last quarter. Vanguard Group Inc. increased its stake in SiBone by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,444,159 shares of the company's stock worth $34,292,000 after buying an additional 35,349 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in SiBone by 21.9% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company's stock valued at $27,392,000 after acquiring an additional 350,970 shares in the last quarter. First Light Asset Management LLC grew its holdings in SiBone by 41.8% in the 1st quarter. First Light Asset Management LLC now owns 1,612,408 shares of the company's stock valued at $22,622,000 after buying an additional 475,426 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its holdings in shares of SiBone by 5.3% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,386,031 shares of the company's stock worth $19,432,000 after buying an additional 69,831 shares during the last quarter. 98.11% of the stock is owned by institutional investors.

About SiBone

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.