Sientra Inc (SIEN) Shares Surge After Brazil Provides Regulatory Clearance For Silimed


Shares of Sientra Inc (NASDAQ:SIEN) are trading significantly higher this afternoon after reports have indicated that the country of Brazil has once again issued regulatory clearance for Silimed. Silimed is one of Sientra Inc’s (NASDAQ:SIEN) contract manufacturers and on October 25 Brazil suspended manufacturing of its products temporarily. While it appears as if the new regulatory clearance was announced approximately one week ago, the event has seemingly gone unnoticed by the market until this afternoon.

The stock had been bouncing around between red and green all day until around 1:15 p.m. ET when it surged more then $1.30 within a matter of minutes. Since that time shares of Sientra Inc (NASDAQ:SIEN) have traded in a range between $8.75 and $9.50. The stock is up 14.23% or $1.13 following the news, hitting $9.08 per share. About 2.34 million shares traded hands or up 195.84% from the average. SIEN has declined 67.31% since June 29, 2015 and is currently downtrending. It has underperformed the S&P500 by 58.44%.

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 selling transactions for a total of $10.83 million in net activity. Orbimed Advisors Llc sold 287,891 shares worth $1.72M.

Sientra, Inc. is a medical aesthetics company. The company has a market cap of $147.10 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.