MetLife Investment Management LLC Buys New Position in Beta Bionics, Inc. $BBNX

MetLife Investment Management LLC acquired a new position in Beta Bionics, Inc. (NASDAQ:BBNX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,370 shares of the company’s stock, valued at approximately $102,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP purchased a new stake in Beta Bionics in the first quarter worth about $47,346,000. Sands Capital Ventures LLC purchased a new stake in Beta Bionics in the first quarter worth about $37,990,000. Lord Abbett & CO. LLC purchased a new stake in Beta Bionics in the first quarter worth about $2,793,000. Walleye Capital LLC bought a new position in Beta Bionics in the first quarter worth $1,813,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Beta Bionics in the first quarter worth $1,244,000.

Insider Activity

In related news, CFO Stephen Feider sold 1,462 shares of Beta Bionics stock in a transaction dated 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 in the company, valued at approximately $830,613.26. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Hopman sold 11,411 shares of Beta Bionics stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $20.56, for a total value of $234,610.16. Following the completion of the sale, the insider 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 quarter.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BBNX. 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. Wolfe Research began coverage on Beta Bionics in a report on Friday, May 30th. They issued an “outperform” rating and a $20.00 price objective for the company. Truist Financial increased 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 initiated coverage on Beta Bionics in a research report on Friday, May 30th. They issued a “neutral” rating and a $16.00 price target on the stock. Finally, Lake Street Capital initiated coverage on Beta Bionics in a research report on Thursday, June 12th. They issued a “buy” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Beta Bionics presently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Beta Bionics Price Performance

Shares of BBNX opened at $24.87 on Thursday. The firm has a 50 day moving average of $16.20 and a 200 day moving average of $15.20. Beta Bionics, Inc. has a twelve month low of $8.89 and a twelve month high of $25.30.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly 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 firm had revenue of $23.24 million for the quarter, compared to the consensus estimate of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

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.