Goldman Sachs Group Inc. Acquires Shares of 58,422 Beta Bionics, Inc. $BBNX

Goldman Sachs Group Inc. acquired a new stake in Beta Bionics, Inc. (NASDAQ:BBNX) during the first quarter, according to its most recent filing with the SEC. The firm acquired 58,422 shares of the company’s stock, valued at approximately $715,000. Goldman Sachs Group Inc. owned about 0.13% of Beta Bionics as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BBNX. Strs Ohio bought a new position in Beta Bionics in the 1st quarter valued at $29,000. Corebridge Financial Inc. bought a new position in shares of Beta Bionics in the 1st quarter worth $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Beta Bionics in the 1st quarter worth $95,000. MetLife Investment Management LLC bought a new position in shares of Beta Bionics in the 1st quarter worth $102,000. Finally, Deutsche Bank AG bought a new position in shares of Beta Bionics in the 1st quarter worth $148,000.

Beta Bionics Trading Down 0.1%

Shares of NASDAQ:BBNX opened at $22.87 on Wednesday. The company has a fifty day moving average of $18.12 and a 200-day moving average of $15.47. Beta Bionics, Inc. has a 52-week low of $8.89 and a 52-week high of $26.66.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.12. The business 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.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial raised their price objective on Beta Bionics from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group assumed coverage on Beta Bionics in a research note on Friday, May 30th. They set a “neutral” rating and a $16.00 price objective on the stock. Lake Street Capital assumed coverage on Beta Bionics in a research note on Thursday, June 12th. They set a “buy” rating and a $30.00 price objective on the stock. Wolfe Research assumed coverage on Beta Bionics in a research note 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 research note on Wednesday, July 30th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.33.

Insiders Place Their Bets

In other Beta Bionics news, CFO Stephen Feider sold 1,462 shares of the company’s stock in a transaction on 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 owned 44,041 shares of the company’s stock, valued at approximately $830,613.26. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Hopman sold 11,411 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $20.56, for a total transaction of $234,610.16. Following the transaction, the insider owned 31,215 shares in the company, valued at $641,780.40. This represents a 26.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,901 shares of company stock worth $894,710 in the last ninety days.

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.