SiBone (NASDAQ:SIBN) Stock Price Down 4.2% - Here's Why

Key Points

• SiBone's stock price fell by 4.2% to $14.11 on Wednesday, accompanied by a substantial decline in trading volume of 71% compared to the average.
• Analyst ratings have varied, with Wall Street Zen downgrading the stock from "buy" to "hold," while Cantor Fitzgerald set a price target of $25.00.
• CEO Laura Francis and CFO Anshul Maheshwari recently sold shares, decreasing their ownership by 2.63% and 1.59% respectively, amidst insider selling totaling $555,679 over the last quarter.

SiBone (NASDAQ:SIBN - Get Free Report)'s stock price traded down 4.2% during trading on Wednesday . The stock traded as low as $13.95 and last traded at $14.11. 121,030 shares were traded during trading, a decline of 71% from the average session volume of 420,929 shares. The stock had previously closed at $14.72.

Analysts Set New Price Targets

Several research analysts have commented on SIBN shares. Wall Street Zen downgraded shares of SiBone from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Cantor Fitzgerald set a $25.00 price objective on SiBone and gave the stock an "overweight" rating in a report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $23.67.

SiBone Stock Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 8.38 and a quick ratio of 7.00. The company has a 50 day simple moving average of $15.95 and a 200-day simple moving average of $16.28. The firm has a market cap of $622.09 million, a PE ratio of -25.75 and a beta of 0.81.

SiBone (NASDAQ:SIBN - Get Free Report) last posted 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 business had revenue of $48.63 million during 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. As a group, equities research analysts anticipate that SiBone will post -0.78 EPS for the current year.

Insider Buying and Selling

In other news, CEO Laura Francis sold 11,343 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.60, for a total transaction of $176,950.80. Following the completion of the sale, the chief executive officer directly owned 419,704 shares in the company, valued at approximately $6,547,382.40. This represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 3,461 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $15.57, for a total value of $53,887.77. Following the transaction, the chief financial officer directly owned 214,445 shares of the company's stock, valued at $3,338,908.65. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,148 shares of company stock valued at $555,679 over the last quarter. Company insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On SiBone

Several hedge funds and other institutional investors have recently modified their holdings of SIBN. Nuveen LLC purchased a new position in shares of SiBone during the 1st quarter worth approximately $18,605,000. First Light Asset Management LLC grew its stake in SiBone by 41.8% in the first quarter. First Light Asset Management LLC now owns 1,612,408 shares of the company's stock worth $22,622,000 after purchasing an additional 475,426 shares during the period. Peregrine Capital Management LLC purchased a new position in SiBone during the second quarter valued at $6,664,000. American Century Companies Inc. lifted its position in SiBone by 11.1% during the first quarter. American Century Companies Inc. now owns 2,642,322 shares of the company's stock valued at $37,072,000 after buying an additional 264,254 shares during the period. Finally, Next Century Growth Investors LLC bought a new stake in shares of SiBone during the 2nd quarter valued at $4,824,000. Hedge funds and other institutional investors own 98.11% of the company's stock.

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.

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