SiBone (NASDAQ:SIBN) Insider Anshul Maheshwari Sells 1,731 Shares of Stock

SiBone (NASDAQ:SIBN) insider Anshul Maheshwari sold 1,731 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $19.50, for a total value of $33,754.50. Following the completion of the transaction, the insider owned 218,235 shares in the company, valued at $4,255,582.50. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, October 2nd, Anshul Maheshwari sold 3,318 shares of SiBone stock. The shares were sold at an average price of $18.18, for a total value of $60,321.24.
• On Monday, August 24th, Anshul Maheshwari sold 11,636 shares of SiBone stock. The shares were sold at an average price of $20.11, for a total value of $233,999.96.
• On Friday, August 21st, Anshul Maheshwari sold 11,228 shares of SiBone stock. The stock was sold at an average price of $20.02, for a total transaction of $224,784.56.
• 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.

SiBone Trading Down 1.3%

SIBN traded down $0.26 during mid-day trading on Tuesday, hitting $19.55. The stock had a trading volume of 538,730 shares, compared to its average volume of 582,763. The stock’s fifty day simple moving average is $18.77 and its 200-day simple moving average is $16.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55. The firm has a market capitalization of $867.04 million, a price-to-earnings ratio of -57.50 and a beta of 0.66. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89.

SiBone (NASDAQ:SIBN) last announced 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 company had revenue of $56.01 million during the quarter, compared to analyst estimates of $55.34 million. As a group, research analysts forecast that SiBone will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On SiBone

A number of large investors have recently added to or reduced their stakes in SIBN. First Light Asset Management LLC lifted its holdings in shares of SiBone by 51.8% in the second quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company’s stock valued at $132,649,000 after purchasing an additional 2,774,795 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of SiBone by 40.3% during the second quarter. Squarepoint Ops LLC now owns 118,128 shares of the company’s stock worth $1,928,000 after buying an additional 33,947 shares during the period. VELA Investment Management LLC grew its holdings in shares of SiBone by 7.4% during the second quarter. VELA Investment Management LLC now owns 201,094 shares of the company’s stock worth $3,282,000 after buying an additional 13,934 shares in the last quarter. Corient Private Wealth LP grew its holdings in shares of SiBone by 119.6% during the second quarter. Corient Private Wealth LP now owns 43,946 shares of the company’s stock worth $717,000 after buying an additional 23,938 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in SiBone by 102.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after buying an additional 887 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SIBN. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. TD Cowen lifted their price objective on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Truist Financial reissued a “buy” rating and set a $23.00 target price (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Finally, UBS Group raised their target price on shares of SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, SiBone presently has an average rating of “Moderate Buy” and an average target price of $24.17.

About SiBone

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company’s technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.