Insider Selling: SiBone (NASDAQ:SIBN) CFO Sells 21,528 Shares of Stock

SiBone (NASDAQ:SIBN) CFO Anshul Maheshwari sold 21,528 shares of SiBone stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.37, for a total transaction of $330,885.36. Following the transaction, the chief financial officer directly owned 266,466 shares in the company, valued at approximately $4,095,582.42. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Anshul Maheshwari also recently made the following trade(s):

• On Friday, January 2nd, Anshul Maheshwari sold 5,229 shares of SiBone stock. The stock was sold at an average price of $19.64, for a total transaction of $102,697.56.
• On Thursday, December 18th, Anshul Maheshwari sold 18,542 shares of SiBone stock. The shares were sold at an average price of $20.15, for a total transaction of $373,621.30.
• On Tuesday, November 25th, Anshul Maheshwari sold 100 shares of SiBone stock. The stock was sold at an average price of $20.00, for a total transaction of $2,000.00.
• On Friday, November 21st, Anshul Maheshwari sold 1,200 shares of SiBone stock. The shares were sold at an average price of $20.01, for a total value of $24,012.00.

SiBone Stock Up 3.2%

NASDAQ SIBN traded up $0.49 on Wednesday, reaching $15.74. The company had a trading volume of 569,275 shares, compared to its average volume of 551,190. The firm has a market capitalization of $682.97 million, a PE ratio of -30.86 and a beta of 0.69. The firm has a 50-day moving average of $18.03 and a 200-day moving average of $16.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62. SiBone has a 1 year low of $12.49 and a 1 year high of $21.89.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Canaccord Genuity Group raised their target price on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Morgan Stanley lifted their price objective on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. TD Cowen raised SiBone to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Needham & Company LLC raised their price target on shares of SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SiBone presently has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Institutional Investors Weigh In On SiBone

Institutional investors have recently made changes to their positions in the company. First Light Asset Management LLC lifted its stake in SiBone by 162.4% during the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after purchasing an additional 3,115,001 shares during the last quarter. Cadian Capital Management LP lifted its position in shares of SiBone by 96.8% in the 4th quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock worth $23,094,000 after buying an additional 576,100 shares during the last quarter. American Century Companies Inc. lifted its position in shares of SiBone by 22.5% in the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock worth $41,777,000 after buying an additional 521,683 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of SiBone by 74.7% in the 3rd quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock valued at $12,560,000 after buying an additional 364,897 shares during the period. Finally, Peregrine Capital Management LLC bought a new stake in shares of SiBone during the 2nd quarter valued at about $6,664,000. 98.11% of the stock is currently owned by 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.