SiBone (NASDAQ:SIBN) SVP Michael Pisetsky Sells 3,725 Shares of Stock

Key Points

• SiBone SVP Michael Pisetsky sold 3,725 shares at an average price of $18.63, generating $69,396.75. The sale covered tax withholding tied to vested equity awards, leaving him with 273,650 shares.
• SiBone shares rose 2.4% to $19.14, while the company’s latest quarterly results beat expectations: an adjusted loss of $0.09 per share versus the $0.15 consensus estimate and revenue of $56.01 million.
• Analyst sentiment remains broadly positive, with six Buy ratings and one Sell rating, a “Moderate Buy” consensus, and an average price target of $24.17. Institutional investors own approximately 98.11% of the stock.

SiBone (NASDAQ:SIBN - Get Free Report) SVP Michael Pisetsky sold 3,725 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $18.63, for a total transaction of $69,396.75. Following the transaction, the senior vice president directly owned 273,650 shares in the company, valued at approximately $5,098,099.50. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Trading Up 2.4%

Shares of NASDAQ:SIBN traded up $0.45 on Tuesday, hitting $19.14. The company had a trading volume of 499,053 shares, compared to its average volume of 618,122. The firm's 50-day simple moving average is $17.15 and its two-hundred day simple moving average is $15.23. The firm has a market capitalization of $848.84 million, a price-to-earnings ratio of -56.29 and a beta of 0.66. The company has a quick ratio of 7.55, a current ratio of 9.15 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 announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.06. The company had revenue of $56.01 million for the quarter, compared to analysts' expectations of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. Equities analysts anticipate that SiBone will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SIBN has been the subject of a number of recent research reports. Weiss Ratings cut shares of SiBone from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, August 5th. Truist Financial restated a "buy" rating and issued a $23.00 price objective (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. TD Cowen raised their target price on shares of SiBone from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Finally, UBS Group lifted their target price on shares of SiBone from $24.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SiBone has an average rating of "Moderate Buy" and a consensus target price of $24.17.

Institutional Investors Weigh In On SiBone

A number of institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company's stock valued at $343,000 after acquiring an additional 1,053 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in SiBone in the 1st quarter worth about $225,000. Goldman Sachs Group Inc. boosted its stake in SiBone by 28.4% in the 1st 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 stake in SiBone during the 1st quarter valued at about $1,818,000. Finally, Legal & General Group Plc grew its position in SiBone by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company's stock valued at $798,000 after purchasing an additional 5,888 shares during the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

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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