3,103,782 Shares in Beta Bionics, Inc. $BBNX Purchased by Sands Capital Ventures LLC

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 Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,103,782 shares of the company's stock, valued at approximately $37,990,000. Beta Bionics comprises 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG purchased a new position in Beta Bionics in the 1st quarter valued at $148,000. Rhumbline Advisers acquired a new position in shares of Beta Bionics during the 1st quarter worth $158,000. Invesco Ltd. acquired a new position in shares of Beta Bionics during the 1st quarter worth $202,000. Nuveen LLC acquired a new position in shares of Beta Bionics during the 1st quarter worth $209,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Beta Bionics during the 1st quarter worth $316,000.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Beta Bionics news, CFO Stephen Feider sold 5,587 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $17.03, for a total value of $95,146.61. Following the sale, the chief financial officer directly owned 45,503 shares in the company, valued at approximately $774,916.09. This trade represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark Hopman sold 16,158 shares of the firm's stock in a transaction 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 completion of the sale, the insider owned 34,132 shares in the company, valued at $566,932.52. The trade was a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,264 shares of company stock valued at $444,376.

Beta Bionics Trading Up 2.3%

Shares of NASDAQ BBNX traded up $0.40 on Monday, reaching $17.45. 498,554 shares of the company traded hands, compared to its average volume of 530,396. Beta Bionics, Inc. has a fifty-two week low of $8.89 and a fifty-two week high of $24.50. The company has a 50 day moving average of $15.14 and a 200 day moving average of $15.26.

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

Beta Bionics 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.