Sientra Inc (SIEN) to Bring All Medical Devices Back to U.S. Markets Next Month – Stock Jumps 20%

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Shares of Sientra Inc (NASDAQ:SIEN) are trading up over 20% this morning, after the company announced plans to bring all of its medical devices, which include their breast implant products, back to the United States market starting on the first of next month. This comes after third party studies have determined that their products are safe for use.

“We are extremely pleased to return our products to the U.S. market where we can once again provide choice to board-certified plastic surgeons, explained Jeffrey Nugent, Chairman and Chief Executive Officer of Sientra. “Our decision to place the voluntary hold on Sientra products was difficult, but we felt it was the responsible action to take at the time amid the speculation, to ensure that Sientra products remain a safe choice for our customers and their patients. Following the results of independent, third-party testing, we are more confident than ever in the safety of our devices, and specifically our breast implant products, which are further supported by our 9-year clinical study data to be published in April of 2016. In terms of the confirmation of our manufacturing supply initiatives, we are confident that our resupply process will be in place in sufficient time to assure our customers of uninterrupted supply.””

A letter was also sent to surgeons, notifying them of the news. The letter can be found here

The stock closed at $8.6 during the last trading session. It is down 64.70% since July 2, 2015 and is downtrending. It has underperformed the S&P500 by 57.40%.

The institutional sentiment increased to 2.2 in Q2 2015. It’s up 0.32, from 1.88 in 2015Q2. The ratio improved, as 11 funds sold all their Sientra Inc shares they owned while 9 reduced their positions. 19 funds bought stakes while 25 increased their total positions. Institutions now own 15.84 million shares which is 8.27% more than the previous share count of 14.63 million in 2015Q2.

Clarus Ventures Llc holds 15.94% of its total portfolio in Sientra Inc, equating to 2.73 million shares. Abingworth Llp owns 2.20 million shares representing 13.04% of their total US portfolio. Moreover, Drill Craig A has 1.17% of their total portfolio invested in the company, equating to 81,314 shares. The California-based Omt Capital Management Llc has a total of 0.56% of their portfolio invested in the stock. Orbimed Advisors Llc, a New York-based fund reported 2.98 million shares owned.

Since September 28, 2015, the stock had 0 buys, and 5 sales for a total of $10.83 million in net activity. Orbimed Advisors Llc sold 287,891 shares worth $1.72 million.

Sientra, Inc. is a medical aesthetics company. The company has a market cap of $147.87 million. The company’s primary products are silicone gel breast implants for use in breast augmentation and breast reconstruction procedures, which it offers in over 150 variations of shapes, sizes and textures. It currently has negative earnings. The Firm sells its breast implants and breast tissue expanders, or breast products to plastic surgeons.

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