Charles Schwab Investment Management Inc. Buys New Position in Beta Bionics, Inc. $BBNX

Key Points

• Charles Schwab Investment Management Inc. acquired a new stake in Beta Bionics, purchasing 101,614 shares valued at approximately $1.24 million, representing 0.23% ownership of the company.
• Several other hedge funds also invested in Beta Bionics during the first quarter, with total investments ranging from $158,000 to $488,000.
• Beta Bionics reported a quarterly earnings per share (EPS) of ($0.39), beating analysts' expectations and achieving revenues of $23.24 million for the quarter.

Charles Schwab Investment Management Inc. bought a new stake in shares of Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 101,614 shares of the company's stock, valued at approximately $1,244,000. Charles Schwab Investment Management Inc. owned 0.23% of Beta Bionics as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Rhumbline Advisers purchased a new stake in shares of Beta Bionics during the 1st quarter valued at about $158,000. Bank of New York Mellon Corp purchased a new stake in shares of Beta Bionics during the 1st quarter valued at about $316,000. Values First Advisors Inc. purchased a new stake in shares of Beta Bionics during the 1st quarter valued at about $457,000. Evanson Asset Management LLC purchased a new stake in Beta Bionics during the 1st quarter worth approximately $475,000. Finally, TD Asset Management Inc purchased a new stake in Beta Bionics during the 1st quarter worth approximately $488,000.

Insider Buying and Selling

In related news, CFO Stephen Feider sold 5,587 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $17.03, for a total transaction of $95,146.61. Following the completion of the transaction, the chief financial officer owned 45,503 shares in the company, valued at $774,916.09. The trade was a 10.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Hopman sold 16,158 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $16.61, for a total value of $268,384.38. Following the transaction, the insider owned 34,132 shares of the company's stock, valued at $566,932.52. This represents a 32.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,158 shares of company stock valued at $438,596 in the last 90 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BBNX shares. Truist Financial lifted their price objective on Beta Bionics from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Beta Bionics in a report on Friday, May 30th. They set a "neutral" rating and a $16.00 price objective on the stock. Lake Street Capital started coverage on Beta Bionics in a report on Thursday, June 12th. They set a "buy" rating and a $30.00 price objective on the stock. Wolfe Research started coverage on Beta Bionics in a report on Friday, May 30th. They set an "outperform" rating and a $20.00 price objective on the stock. Finally, Robert W. Baird set a $17.00 price objective on Beta Bionics and gave the stock a "neutral" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Beta Bionics has an average rating of "Moderate Buy" and an average target price of $22.56.

Beta Bionics Stock Performance

NASDAQ:BBNX opened at $18.84 on Tuesday. Beta Bionics, Inc. has a 12-month low of $8.89 and a 12-month high of $24.50. The business has a 50 day simple moving average of $15.23 and a 200 day simple moving average of $15.10.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last released 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 company had revenue of $23.24 million for the quarter, compared to analyst estimates 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.

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