SiBone (NASDAQ:SIBN) Shares Down 6.7% – Here’s Why

SiBone (NASDAQ:SIBN) shares traded down 6.7% during trading on Monday . The company traded as low as $19.15 and last traded at $19.0650. 87,801 shares changed hands during trading, a decline of 83% from the average session volume of 520,078 shares. The stock had previously closed at $20.44.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Needham & Company LLC upped their target price on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Morgan Stanley upped their target price on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Canaccord Genuity Group lifted their price target on shares of SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Finally, Truist Financial raised their target price on SiBone from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

SiBone Trading Down 12.6%

The business has a 50 day moving average price of $18.93 and a 200 day moving average price of $17.11. The company has a current ratio of 7.97, a quick ratio of 6.62 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $775.40 million, a P/E ratio of -35.04 and a beta of 0.69.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. SiBone had a negative return on equity of 12.86% and a negative net margin of 11.24%.The company had revenue of $48.66 million for the quarter, compared to analyst estimates of $46.67 million. Analysts anticipate that SiBone will post -0.78 EPS for the current year.

Insider Buying and Selling at SiBone

In other SiBone news, Director Jeffrey W. Dunn sold 18,759 shares of SiBone stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $19.33, for a total value of $362,611.47. Following the transaction, the director owned 110,115 shares in the company, valued at $2,128,522.95. The trade was a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael A. Pisetsky sold 3,460 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $19.62, for a total value of $67,885.20. Following the completion of the transaction, the senior vice president owned 228,436 shares of the company’s stock, valued at $4,481,914.32. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 187,886 shares of company stock worth $3,570,767 in the last ninety days. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

Several large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in SiBone in the fourth quarter valued at approximately $392,000. Assenagon Asset Management S.A. increased its holdings in SiBone by 0.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock worth $4,437,000 after buying an additional 997 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in shares of SiBone by 0.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock worth $3,798,000 after purchasing an additional 1,968 shares during the last quarter. PharVision Advisers LLC bought a new stake in shares of SiBone in the third quarter valued at $431,000. Finally, XTX Topco Ltd raised its stake in SiBone by 70.9% in the 3rd quarter. XTX Topco Ltd now owns 33,870 shares of the company’s stock valued at $499,000 after acquiring an additional 14,053 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.