UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in SiBone $SIBN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in SiBone (NASDAQ:SIBN) by 31.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,736 shares of the company’s stock after selling 27,538 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SiBone were worth $975,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SIBN. ANTIPODES PARTNERS Ltd purchased a new position in SiBone in the fourth quarter worth $29,000. Versant Capital Management Inc raised 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 purchasing an additional 887 shares in the last quarter. Royal Bank of Canada raised 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 purchasing an additional 736 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in 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 purchasing an additional 1,941 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in SiBone during the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Insider Buying and Selling

In related news, Director Jeffrey W. Dunn sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $18.91, for a total transaction of $378,200.00. Following the transaction, the director directly owned 16,057 shares in the company, valued at $303,637.87. This trade represents a 55.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Pisetsky sold 3,725 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $18.63, for a total value of $69,396.75. Following the completion of the sale, the senior vice president owned 273,650 shares of the company’s stock, valued at $5,098,099.50. The trade was a 1.34% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 165,231 shares of company stock valued at $3,193,690. 4.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD Cowen increased their price objective on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Truist Financial reaffirmed a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Finally, UBS Group increased their price target 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. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SiBone has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

SiBone Stock Performance

SiBone stock opened at $18.38 on Friday. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $815.15 million, a PE ratio of -54.06 and a beta of 0.70. The firm has a fifty day simple moving average of $18.28 and a two-hundred day simple moving average of $15.68. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89.

SiBone (NASDAQ:SIBN) last posted 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. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. The business had revenue of $56.01 million during the quarter, compared to analyst estimates of $55.34 million. Research analysts expect that SiBone will post -0.4 EPS for the current year.

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.