First Light Asset Management LLC Makes New $13.25 Million Investment in SI-Bone Inc (NASDAQ:SIBN)

First Light Asset Management LLC purchased a new position in SI-Bone Inc (NASDAQ:SIBN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 651,319 shares of the company’s stock, valued at approximately $13,248,000. SI-Bone makes up approximately 1.8% of First Light Asset Management LLC’s holdings, making the stock its 22nd largest holding. First Light Asset Management LLC owned approximately 2.65% of SI-Bone at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in SI-Bone in the 2nd quarter worth approximately $28,000. Private Ocean LLC purchased a new position in SI-Bone in the 2nd quarter worth approximately $131,000. Deutsche Bank AG purchased a new position in SI-Bone in the 4th quarter worth approximately $227,000. Bank of New York Mellon Corp boosted its stake in shares of SI-Bone by 50.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 45,205 shares of the company’s stock valued at $919,000 after purchasing an additional 15,111 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of SI-Bone by 14.7% in the 2nd quarter. Northern Trust Corp now owns 129,512 shares of the company’s stock valued at $2,634,000 after purchasing an additional 16,560 shares in the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman Jeffrey W. Dunn sold 1,436 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $20.16, for a total transaction of $28,949.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO W Carlton Reckling sold 15,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $20.00, for a total transaction of $300,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 786,084 shares of company stock valued at $14,704,233 over the last quarter. 38.80% of the stock is currently owned by company insiders.



Shares of SI-Bone stock opened at $20.08 on Friday. SI-Bone Inc has a 52-week low of $14.08 and a 52-week high of $23.03. The company has a fifty day moving average of $19.07 and a 200-day moving average of $18.19. The company has a quick ratio of 11.55, a current ratio of 12.00 and a debt-to-equity ratio of 0.50.

SI-Bone (NASDAQ:SIBN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.05. SI-Bone had a negative net margin of 46.59% and a negative return on equity of 84.84%. The company had revenue of $16.32 million during the quarter. Analysts predict that SI-Bone Inc will post -1.31 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on SIBN. Zacks Investment Research raised shares of SI-Bone from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. ValuEngine raised shares of SI-Bone from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. SI-Bone presently has a consensus rating of “Buy” and an average price target of $24.75.

SI-Bone Profile

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

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Institutional Ownership by Quarter for SI-Bone (NASDAQ:SIBN)

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