Truist Financial Issues Pessimistic Forecast for Beta Bionics (NASDAQ:BBNX) Stock Price

Beta Bionics (NASDAQ:BBNX) had its target price lowered by equities researchers at Truist Financial from $37.00 to $25.00 in a research note issued on Monday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 72.89% from the company’s current price.

BBNX has been the topic of several other reports. Piper Sandler reissued an “overweight” rating and issued a $32.00 price objective (up from $26.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.00 target price (up previously from $26.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Robert W. Baird set a $28.00 price target on shares of Beta Bionics in a research note on Tuesday, December 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Beta Bionics in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Beta Bionics from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.18.

Beta Bionics Trading Up 5.5%

Shares of NASDAQ BBNX opened at $14.46 on Monday. The stock has a market cap of $636.67 million and a P/E ratio of -3.31. Beta Bionics has a twelve month low of $8.89 and a twelve month high of $32.71. The stock has a 50 day moving average of $25.28 and a two-hundred day moving average of $22.69.

Insider Activity at Beta Bionics

In other news, CFO Stephen Feider sold 20,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $29.53, for a total transaction of $590,600.00. Following the transaction, the chief financial officer directly owned 42,614 shares in the company, valued at $1,258,391.42. This represents a 31.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mike Mensinger sold 7,800 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.61, for a total transaction of $230,958.00. Following the transaction, the insider directly owned 82,952 shares in the company, valued at approximately $2,456,208.72. This represents a 8.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,490 shares of company stock valued at $960,835 over the last 90 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BBNX. GPS Wealth Strategies Group LLC grew its stake in shares of Beta Bionics by 45.0% in the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after buying an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Beta Bionics by 203.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after buying an additional 1,594 shares during the last quarter. Strs Ohio acquired a new stake in shares of Beta Bionics during the first quarter worth approximately $29,000. Ameritas Investment Partners Inc. grew its position in shares of Beta Bionics by 139.1% during the third quarter. Ameritas Investment Partners Inc. now owns 3,202 shares of the company’s stock worth $64,000 after buying an additional 1,863 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Beta Bionics by 197.4% in the second quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock worth $58,000 after buying an additional 2,639 shares during the last quarter.

Beta Bionics Company Profile

Beta Bionics, a clinical-stage medical device company headquartered in Boston, Massachusetts, is focused on revolutionizing the management of type 1 diabetes through automated insulin delivery solutions. The company’s flagship product, the iLet Bionic Pancreas system, is designed to simplify glycemic control by automatically adjusting insulin dosing in response to continuous glucose monitoring data. By integrating advanced algorithmic control with wearable infusion pumps, the iLet aims to reduce the daily burden of diabetes management and improve clinical outcomes for patients.

At the core of Beta Bionics’ offering is its proprietary bionic pancreas software, which can operate in both insulin-only and dual‐hormone modes.