Farallon Capital Management Reduces $10M in Beta Bionics, Inc. ($BBNX)
Key Points
- Farallon Capital Management changed its Beta Bionics, Inc. ($BBNX) stake by 16.4% last quarter, cutting to 3,607,920 shares worth $52.42 million.
- Wall Street's consensus rating on $BBNX is Buy and an average price target of $19.18.
- $BBNX last traded around $14.53.
Farallon Capital Management reduced its position in Beta Bionics, Inc. ($BBNX) by 16.4% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,607,920 shares of Beta Bionics, Inc. after selling 706,000 shares during the quarter. Farallon Capital Management's holdings in Beta Bionics, Inc. were worth $52.42 million as of its most recent filing.
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About Beta Bionics, Inc.
Beta Bionics, Inc., a commercial-stage medical device company, engages in the design, development, and commercialization of solutions to enhance the health and quality of life of insulin-requiring people with diabetes. It offers iLet Bionic Pancreas, an insulin delivery device for the treatment of type 1 diabetes in adults and children six years of age and older. The company is also developing Patch Pump, an insulin pump that is designed to adhere directly to the skin and administer insulin without the need for tubing; Bihormonal iLet, which combines automated delivery of insulin and glucagon; and iLet to treat people with insulin-dependent type-2 diabetes. It has collaboration and license agreement with Xeris Pharmaceuticals, Inc. (Xeris) to develop and commercialize a pump-compatible glucagon formulation; and development and commercialization agreement with Abbott Diabetes Care Inc. to develop and commercialize an automated insulin delivery system. The company was incorporated in 2015 and is headquartered in Irvine, California.
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