On February 07, 2022, Senseonics Holdings Inc. (SENS) stock continued to gain in the premarket. The company filed a Statement of Acquisition on Friday, February 04, 2022, while the stock was in an uptrend well before the filing.
In the previous trading session, the stock gained a good 10.93% at its close of $3.35 at an above-average volume of 17.85 million shares. At the time of writing, SENS had added a further 6.87% premarket. Hence, the stock was trading at $3.58 apiece in the premarket, at the last check on Friday.
The implantable continuous glucose monitoring systems developer, Senseonics Holdings Inc. was founded in 2014. Currently, its 445.98 million outstanding shares trade at a market capitalization of $1.49 billion.
What is happening?
On February 04, the company filed a Statement of Acquisition with the Securities Exchange Commission. Since the stock has been in an uptrend for over a week, there’s no surety of its recent movement being due to the filing. SENS stock has been moving up since January 28 with no official announcement to justify the move. Hence, the stock might be moving up due to external factors like social media discussions and stock sentiment.
2022 has so far proved very fruitful for the stock since it has added 25.47% year to date. While SENS declined by 9.95% last year, it has increased by 25% in the past five days alone.
SENS Inducement Grants
On January 05, the company announced awarding inducement grants to its new employees under its 2019 Inducement Plan. The day before, 3 new non-executive employees were granted non-qualified stock options for buying an aggregate of 30,000 common stock shares as inducement material. The per-share exercise price of the options is $2.68, which was SENS’ closing price on NYSE on the day.
Furthermore, the vesting period of the underlying shares is a total of four years, with 25% vesting on the employee’s first anniversary with the company. The remaining of which will vest monthly over the following three years, based on the continuation of employment.
SENS’ Financial Analysis
On November 9, 2021, the company announced its financial results for the third quarter of 2021, which ended on September 30.
Therefore, in Q3 2021, SENS generated total revenue of $3.5 million against $0.8 million in the year-ago period.
Moreover, the company had a net income of $42.9 million ($0.10/share) in Q3 22021, against a net loss of $23.4 million ($0.10/share) in Q3 2020.
