Stocks

SENS Stock: Soros Fund Management adds $1.3 million to it’s Senseonics holdings

SENS Stock: Soros Fund Management adds $1.3 million to it's Senseonics holdings

Soros Fund Management, run by George Soros adds $1,340,462 or 12% to it’s total Senseonics (SENS) holdings. The total shares owned by Soros comes out to be 12,257,128, with a 4% ownership in the company.

Since our first reporting on this stock it has risen over 35%, The company is currently working on developing longer lasting CGMs with longer duration censors, they are currently developing a 180-day system which is already approved by the FDA in Europe and a 365-day system. These new systems are currently being working on and awaiting FDA approval for use in the United States.

The bottom line is that right now this stock should be added to your watchlist, if their new Eversense CGM devices get approved (180-day and 360-day) then I expect that this company will grab major market share from it’s competitors like DexCom and Medtronic (MDT). I predict the price will be above $10 if the 180-day device gets FDA approved and above $40+ if the 360-day device gets approved.

This is the “buy the dip” opportunity

Since the market is red right now, this is a “buy the dip” opportunity. There is potentially a bigger upside sprint, which relies heavily on a Food and Drug Administration’s seal of approval (FDA). The shares could surge or stay steady, until the government greenlights the solution.

However, the excitement already included in SENS shares has been substantial. In the WallStreetBets forum in Reddit and in other financial sites the stock was hyped. The crowd continues to switch to other hot selections easily but SENS continues to be on their radar.