Alyeska Investment Group L.P. Takes Position in Beta Bionics, Inc. $BBNX

Key Points

• Alyeska Investment Group L.P. has acquired a new stake in Beta Bionics, Inc., purchasing 75,000 shares valued at approximately $918,000 during the first quarter.
• Beta Bionics recently reported a quarterly EPS of ($0.39), exceeding analysts' estimates, with revenues of $23.24 million compared to expectations of $19.73 million.
• Several analysts have rated Beta Bionics stock, with an average rating of "Moderate Buy" and a target price of $22.56, reflecting a generally positive outlook.

Alyeska Investment Group L.P. bought a new stake in Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,000 shares of the company's stock, valued at approximately $918,000. Alyeska Investment Group L.P. owned about 0.17% of Beta Bionics at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. RA Capital Management L.P. bought a new stake in Beta Bionics in the first quarter valued at approximately $6,120,000. Braidwell LP bought a new stake in Beta Bionics in the first quarter valued at approximately $1,714,000. Ghisallo Capital Management LLC bought a new stake in Beta Bionics in the first quarter valued at approximately $612,000. Driehaus Capital Management LLC bought a new position in shares of Beta Bionics during the 1st quarter worth approximately $10,799,000. Finally, Omega Fund Management LLC bought a new position in shares of Beta Bionics during the 1st quarter worth approximately $24,337,000.

Insiders Place Their Bets

In related news, CFO Stephen Feider sold 1,462 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $18.86, for a total value of $27,573.32. Following the completion of the sale, the chief financial officer directly owned 44,041 shares of the company's stock, valued at approximately $830,613.26. This represents a 3.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Hopman sold 11,411 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $20.56, for a total value of $234,610.16. Following the completion of the sale, the insider directly owned 31,215 shares of the company's stock, valued at $641,780.40. The trade was a 26.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,901 shares of company stock valued at $894,710 over the last three months.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BBNX. Robert W. Baird set a $17.00 price target on Beta Bionics and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Truist Financial increased their price target on Beta Bionics from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wolfe Research began coverage on Beta Bionics in a report on Friday, May 30th. They set an "outperform" rating and a $20.00 price target on the stock. Lake Street Capital began coverage on Beta Bionics in a report on Thursday, June 12th. They set a "buy" rating and a $30.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on Beta Bionics in a report on Friday, May 30th. They issued a "neutral" rating and a $16.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.56.

Beta Bionics Trading Up 4.2%

NASDAQ BBNX traded up $1.07 on Friday, reaching $26.41. The company had a trading volume of 982,957 shares, compared to its average volume of 643,920. The company's fifty day moving average is $16.70 and its 200 day moving average is $15.29. Beta Bionics, Inc. has a 52-week low of $8.89 and a 52-week high of $26.66.

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

About Beta Bionics

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.