Director Timothy E. Davis Jr., associated with SI-BONE, Inc. (NASDAQ:SIBN), executed sales of common stock totaling $104,186 over the course of two days in late May. These dispositions were made after Mr. Davis exercised options to acquire shares. The sale prices observed during these transactions ranged from a low of $14.12 to a high of $14.505 per share.
On May 28, 2026, the director sold 3,780 shares of SI-BONE common stock. The weighted average price for this initial block of sales was calculated at $14.4706, with individual transactions occurring between $14.45 and $14.505 per share. The following day, May 29, he reported selling an additional 3,500 shares. These subsequent shares were sold at a weighted average price of $14.1394, with trades executed within the range of $14.12 to $14.15.
The combined value derived from both sets of transactions reached $104,186. Prior to these sales activity, on May 28, 2026, Davis Jr. had previously acquired a substantial holding of 12,064 shares of SI-BONE common stock. This acquisition was accomplished through the exercise of stock options, which carried an exercise price of $4.32 per share, resulting in a total cost of $52,116 for the vested and immediately exercisable options.
Following these reported transactions, Davis Jr.'s direct ownership stake in SI-BONE common stock totals 65,722 shares. This cumulative holding includes an additional component of 8,675 shares that are issuable upon the settlement of restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of the company’s common stock.
The recent insider selling comes as SI-BONE shares trade at $13.87. This price reflects a decline of approximately 30% year-to-date and positions the stock near the lower end of its observed 52-week trading range, which spans from $11.48 to $21.89.
Despite the recent sales activity, other valuation indicators suggest potential value. An analysis from InvestingPro indicates that SI-BONE appears undervalued at current market levels, with various analysts establishing price targets ranging between $18 and $32 per share.
In addition to the insider trading news, SI-BONE Inc. recently released its first-quarter 2026 financial results. The report indicated a strong operational performance, characterized by a narrower net loss than previously anticipated, alongside notable revenue expansion. Specifically, the company posted an earnings per share (EPS) of -$0.10. This figure surpassed the forecast of -$0.19, and total reported revenue amounted to $52.6 million, which was marginally below the projected $52.85 million.
The overall performance was generally well-received by investors. Although there was a slight shortfall in revenue compared to expectations, the company managed to raise its revenue guidance. This updated guidance increased the figure by an amount roughly equivalent to the first-quarter earnings beat at the midpoint and also raised its gross margin guidance by 100 basis points. The increase in gross margin was attributed by the company to a better average selling price mix.
These positive corporate developments prompted action from external analysts. Truist Securities responded to the news by lowering its previous price target for SI-BONE shares from $20 to $18, while simultaneously maintaining its Buy rating on the stock. These combined events reflect a generally positive outlook regarding the company’s future performance and financial trajectory.
Risks
- The stock is trading near the lower end of its 52-week range ($13.87 vs $11.48 - $21.89).
- The reported Q1 2026 revenue ($52.6 million) fell slightly below anticipated levels ($52.85 million).
More from Insider Trading