Sands Capital Ventures LLC Invests $37.99 Million in Beta Bionics, Inc. $BBNX

Key Points

• Sands Capital Ventures LLC acquired approximately 3.1 million shares of Beta Bionics, valued at about $37.99 million, making it the firm's fourth largest position at 9.3% of its portfolio.
• Beta Bionics' recent earnings report showed a quarterly revenue of $23.24 million, exceeding analysts' expectations, while the company also beat EPS estimates with a loss of ($0.39) per share, against an expected loss of ($0.51).
• Wall Street analysts generally hold a Moderate Buy consensus rating for Beta Bionics, with an average price target of $22.56.

Sands Capital Ventures LLC purchased a new stake in shares of Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,103,782 shares of the company's stock, valued at approximately $37,990,000. Beta Bionics makes up about 9.3% of Sands Capital Ventures LLC's investment portfolio, making the stock its 4th biggest position. Sands Capital Ventures LLC owned about 7.16% of Beta Bionics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BBNX. Wellington Management Group LLP bought a new position in Beta Bionics in the 1st quarter worth $47,346,000. Lord Abbett & CO. LLC bought a new position in Beta Bionics in the 1st quarter worth $2,793,000. Nuveen LLC bought a new position in Beta Bionics in the 1st quarter worth $209,000. Invesco Ltd. bought a new position in Beta Bionics in the 1st quarter worth $202,000. Finally, Deutsche Bank AG bought a new position in Beta Bionics in the 1st quarter worth $148,000.

Insider Transactions at Beta Bionics

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 shares were sold at an average price of $17.03, for a total transaction of $95,146.61. Following the completion of the sale, the chief financial officer directly owned 45,503 shares of the company's stock, valued at $774,916.09. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a 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 that occurred on Tuesday, August 19th. The stock was 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. This trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,264 shares of company stock worth $444,376.

Beta Bionics Price Performance

Shares of Beta Bionics stock traded up $0.38 during trading on Tuesday, hitting $17.83. 120,619 shares of the company's stock traded hands, compared to its average volume of 528,285. The firm's fifty day moving average price is $15.10 and its 200 day moving average price is $15.22. Beta Bionics, Inc. has a twelve month low of $8.89 and a twelve month high of $24.50.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.12. The business 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.

Analysts Set New Price Targets

BBNX has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Beta Bionics in a report on Friday, May 30th. They issued a "neutral" rating and a $16.00 target price on the stock. Robert W. Baird set a $17.00 price objective on shares of Beta Bionics and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Lake Street Capital initiated coverage on shares of 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 initiated coverage on shares of Beta Bionics in a report on Friday, May 30th. They set an "outperform" rating and a $20.00 price objective on the stock. Finally, Truist Financial boosted their price objective on shares of Beta Bionics from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $22.56.

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.