Shares of Sientra Inc (NASDAQ:SIEN) are up considerably in late morning trading on no major news. The move, which seems to be coming from technical indicators, certainly is welcomed by shareholders who had witnessed a terrible 2015 for the stock. Shares of Sientra Inc (NASDAQ:SIEN) are down more than 70% in the last three and a half months alone.
Volume on the stock is well above average for this time of day as a new bull flag signal has seemingly been indicated. The spike in share price, which began at around 10 a.m. ET, seems to finally be leveling off as some profit taking may be occurring. The stock is up 16.58% or $0.99 following the news, hitting $6.96 per share. About 434,928 shares traded hands or up 0.66% from the average. SIEN has declined 73.87% since June 1, 2015 and is currently downtrending. It has underperformed the S&P500 by 70.86%.
The institutional sentiment increased to 2.2 in Q2 2015. It’s up 0.32, from 1.88 in 2015Q2. The ratio is positive, 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 insider purchases, and 5 selling transactions 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 $125.23 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.