SiBone (NASDAQ:SIBN) Shares Down 3.9% - Here's What Happened

SiBone (NASDAQ:SIBN - Get Free Report) traded down 3.9% during mid-day trading on Friday . The stock traded as low as $18.05 and last traded at $18.04. 4,414 shares changed hands during trading, a decline of 99% from the average session volume of 392,073 shares. The stock had previously closed at $18.78.

Analyst Upgrades and Downgrades

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

SiBone Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.26 and a current ratio of 8.53. The business has a 50 day simple moving average of $18.23 and a 200-day simple moving average of $16.36. The firm has a market cap of $738.18 million, a price-to-earnings ratio of -27.06 and a beta of 0.93.

SiBone (NASDAQ:SIBN - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.09. SiBone had a negative return on equity of 16.00% and a negative net margin of 15.03%. The business had revenue of $47.29 million for the quarter, compared to analysts' expectations of $45.13 million. Equities research analysts expect that SiBone will post -0.78 earnings per share for the current year.

Insider Transactions at SiBone

In related news, CEO Laura Francis sold 38,504 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $17.18, for a total transaction of $661,498.72. Following the completion of the sale, the chief executive officer directly owned 302,958 shares of the company's stock, valued at approximately $5,204,818.44. This trade represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony J. Recupero sold 4,147 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $19.56, for a total value of $81,115.32. Following the completion of the transaction, the insider owned 282,015 shares of the company's stock, valued at $5,516,213.40. This trade represents a 1.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,702 shares of company stock worth $1,866,404. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On SiBone

Several large investors have recently modified their holdings of SIBN. ANTIPODES PARTNERS Ltd purchased a new stake in SiBone in the 1st quarter worth about $34,000. Virtus Fund Advisers LLC purchased a new position in shares of SiBone in the fourth quarter worth about $40,000. GAMMA Investing LLC raised its position in shares of SiBone by 20,352.6% in the first quarter. GAMMA Investing LLC now owns 3,886 shares of the company's stock valued at $55,000 after purchasing an additional 3,867 shares during the period. Virtus Advisers LLC bought a new position in SiBone in the 1st quarter worth approximately $58,000. Finally, KLP Kapitalforvaltning AS purchased a new position in SiBone in the 4th quarter valued at approximately $97,000. 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.