Goldman Sachs Group Inc. Takes $715,000 Position in Beta Bionics, Inc. $BBNX

Goldman Sachs Group Inc. bought a new stake in shares of Beta Bionics, Inc. (NASDAQ:BBNX) in the first quarter, Holdings Channel reports. The fund bought 58,422 shares of the company’s stock, valued at approximately $715,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio bought a new position in shares of Beta Bionics during the 1st quarter valued at approximately $29,000. Corebridge Financial Inc. bought a new position in shares of Beta Bionics during the 1st quarter valued at approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Beta Bionics during the 1st quarter valued at approximately $95,000. MetLife Investment Management LLC bought a new position in Beta Bionics in the 1st quarter worth approximately $102,000. Finally, Deutsche Bank AG bought a new position in Beta Bionics in the 1st quarter worth approximately $148,000.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Lake Street Capital assumed coverage on shares of Beta Bionics in a report on Thursday, June 12th. They issued a “buy” rating and a $30.00 price objective for the company. Truist Financial raised their price objective on shares of Beta Bionics from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday. Wolfe Research assumed coverage on shares of Beta Bionics in a report on Friday, May 30th. They issued an “outperform” rating and a $20.00 price objective for the company. 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. Finally, The Goldman Sachs Group assumed coverage on shares of Beta Bionics in a report on Friday, May 30th. They issued a “neutral” rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.33.

Beta Bionics Price Performance

Shares of Beta Bionics stock opened at $22.87 on Wednesday. Beta Bionics, Inc. has a 12-month low of $8.89 and a 12-month high of $26.66. The company’s fifty day simple moving average is $18.12 and its two-hundred day simple moving average is $15.47.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly 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 during 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 Beta Bionics news, insider Mark Hopman sold 11,411 shares of the firm’s 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 sale, the insider owned 31,215 shares of the company’s stock, valued at $641,780.40. This trade represents a 26.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen Feider sold 1,462 shares of Beta Bionics stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $18.86, for a total transaction of $27,573.32. Following the sale, the chief financial officer directly owned 44,041 shares in the company, valued at $830,613.26. The trade was a 3.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,901 shares of company stock worth $894,710.

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.