500,000 Shares in Beta Bionics, Inc. $BBNX Acquired by RA Capital Management L.P.

Key Points

• RA Capital Management L.P. acquired 500,000 shares of Beta Bionics, Inc. valued at approximately $6.1 million, owning about 1.15% of the company as of their latest SEC filing.
• Beta Bionics has seen significant investment from other hedge funds, including Wellington Management Group LLP, which purchased a stake worth $47.3 million in the first quarter.
• Analysts generally rate Beta Bionics positively, with a consensus target price of $22.56 and several firms boosting their price targets for the stock.

RA Capital Management L.P. acquired a new position in Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 500,000 shares of the company's stock, valued at approximately $6,120,000. RA Capital Management L.P. owned about 1.15% of Beta Bionics as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in Beta Bionics during the 1st quarter valued at $47,346,000. Sands Capital Ventures LLC purchased a new stake in Beta Bionics during the 1st quarter valued at $37,990,000. Omega Fund Management LLC purchased a new stake in Beta Bionics during the 1st quarter valued at $24,337,000. Driehaus Capital Management LLC purchased a new stake in Beta Bionics during the 1st quarter valued at $10,799,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Beta Bionics during the 1st quarter valued at $2,793,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BBNX shares. Truist Financial boosted their target price on shares of Beta Bionics from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Lake Street Capital started coverage on shares of Beta Bionics in a research note on Thursday, June 12th. They set a "buy" rating and a $30.00 target price for the company. Wolfe Research started coverage on shares of Beta Bionics in a research note on Friday, May 30th. They set an "outperform" rating and a $20.00 target price for the company. The Goldman Sachs Group started coverage on shares of Beta Bionics in a research note on Friday, May 30th. They set a "neutral" rating and a $16.00 target price for the company. Finally, Robert W. Baird set a $17.00 target price on shares of Beta Bionics and gave the company a "neutral" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Beta Bionics presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.56.

Beta Bionics Price Performance

Shares of BBNX stock opened at $18.84 on Tuesday. Beta Bionics, Inc. has a 1 year low of $8.89 and a 1 year high of $24.50. The firm has a fifty day moving average price of $15.23 and a 200-day moving average price of $15.10.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.51) by $0.12. The business had revenue of $23.24 million for the quarter, compared to the consensus estimate of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

Insiders Place Their Bets

In other news, CFO Stephen Feider sold 4,413 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $17.01, for a total transaction of $75,065.13. Following the completion of the sale, the chief financial officer owned 45,503 shares of the company's stock, valued at $774,006.03. The trade was a 8.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Hopman sold 16,158 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $16.61, for a total transaction of $268,384.38. Following the sale, the insider directly owned 34,132 shares of the company's stock, valued at approximately $566,932.52. The trade was a 32.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,158 shares of company stock valued at $438,596.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.

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