SiBone (NASDAQ:SIBN) Downgraded by Wall Street Zen to Hold

Key Points

• SiBone's stock rating was downgraded from "buy" to "hold" by Wall Street Zen in a recent research note.
• Cantor Fitzgerald set a price objective of $25.00, while Truist Financial raised their target from $20.00 to $22.00, maintaining a "buy" rating.
• Insider transactions included the CFO and CEO selling shares, contributing to a total of 58,218 shares sold by insiders in the last ninety days.

Wall Street Zen lowered shares of SiBone (NASDAQ:SIBN - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other analysts have also weighed in on SIBN. Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price target on shares of SiBone in a report on Tuesday, August 5th. Needham & Company LLC reiterated a "buy" rating and issued a $24.00 target price on shares of SiBone in a research note on Tuesday, May 6th. Finally, Truist Financial increased their target price on SiBone from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th.

SiBone Stock Performance

Shares of NASDAQ SIBN traded up $0.70 during midday trading on Friday, hitting $15.90. 179,686 shares of the company's stock traded hands, compared to its average volume of 431,342. The firm has a fifty day moving average of $17.54 and a 200 day moving average of $16.60. The stock has a market capitalization of $685.94 million, a price-to-earnings ratio of -28.40 and a beta of 0.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.00 and a current ratio of 8.38. SiBone has a 1 year low of $11.70 and a 1 year high of $20.05.

SiBone (NASDAQ:SIBN - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.05. The firm had revenue of $48.63 million during the quarter, compared to the consensus estimate of $48.12 million. SiBone had a negative return on equity of 14.20% and a negative net margin of 12.83%. On average, analysts forecast that SiBone will post -0.78 earnings per share for the current year.

Insider Buying and Selling at SiBone

In other news, CEO Laura Francis sold 12,385 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $19.67, for a total transaction of $243,612.95. Following the transaction, the chief executive officer owned 495,170 shares of the company's stock, valued at approximately $9,739,993.90. This represents a 2.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Pisetsky sold 3,459 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $19.66, for a total value of $68,003.94. Following the sale, the senior vice president directly owned 264,636 shares in the company, valued at approximately $5,202,743.76. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,413 shares of company stock worth $1,221,524. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On SiBone

A number of institutional investors and hedge funds have recently modified their holdings of the company. ANTIPODES PARTNERS Ltd acquired a new position in SiBone in the first quarter valued at approximately $34,000. Virtus Fund Advisers LLC acquired a new position in shares of SiBone during the 4th quarter worth approximately $40,000. GAMMA Investing LLC raised its stake in shares of SiBone by 20,352.6% during the 1st quarter. GAMMA Investing LLC now owns 3,886 shares of the company's stock worth $55,000 after buying an additional 3,867 shares during the period. Virtus Advisers LLC acquired a new position in shares of SiBone during the 1st quarter worth approximately $58,000. Finally, Johnson Investment Counsel Inc. acquired a new position in shares of SiBone in the 1st quarter valued at $148,000. Institutional investors and hedge funds 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.