Anshul Maheshwari Sells 11,228 Shares of SiBone (NASDAQ:SIBN) Stock

SiBone (NASDAQ:SIBN) insider Anshul Maheshwari sold 11,228 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $20.02, for a total value of $224,784.56. Following the sale, the insider owned 234,920 shares in the company, valued at approximately $4,703,098.40. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, August 19th, Anshul Maheshwari sold 5,747 shares of SiBone stock. The shares were sold at an average price of $19.55, for a total transaction of $112,353.85.
• On Monday, August 17th, Anshul Maheshwari sold 4,665 shares of SiBone stock. The shares were sold at an average price of $18.65, for a total transaction of $87,002.25.
• On Thursday, July 2nd, Anshul Maheshwari sold 3,317 shares of SiBone stock. The stock was sold at an average price of $16.77, for a total transaction of $55,626.09.

SiBone Stock Performance

NASDAQ SIBN opened at $19.96 on Friday. The company’s 50 day simple moving average is $17.49 and its two-hundred day simple moving average is $15.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The stock has a market capitalization of $885.23 million, a PE ratio of -58.71 and a beta of 0.66.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. The firm had revenue of $56.01 million during the quarter, compared to analyst estimates of $55.34 million. Analysts predict that SiBone will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SIBN shares. Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Truist Financial reissued a “buy” rating and issued a $23.00 price target (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. UBS Group raised their price objective on shares of SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, TD Cowen lifted their price objective on shares of SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.17.

Hedge Funds Weigh In On SiBone

A number of large investors have recently modified their holdings of SIBN. ANTIPODES PARTNERS Ltd purchased a new stake in SiBone in the fourth quarter worth approximately $29,000. Versant Capital Management Inc grew its position in SiBone by 102.9% during the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after acquiring an additional 887 shares during the last quarter. Royal Bank of Canada grew its position in SiBone by 98.5% during the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after acquiring an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of SiBone by 64,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock worth $38,000 after acquiring an additional 1,941 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of SiBone during the fourth quarter worth approximately $53,000. 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.