12 West Capital Management LP Purchases Shares of 575,000 Beta Bionics, Inc. $BBNX

12 West Capital Management LP purchased a new stake in Beta Bionics, Inc. (NASDAQ:BBNX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 575,000 shares of the company’s stock, valued at approximately $17,520,000. Beta Bionics makes up about 2.1% of 12 West Capital Management LP’s portfolio, making the stock its 14th largest position.

Several other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Beta Bionics in the 1st quarter worth approximately $95,000. Goldman Sachs Group Inc. acquired a new position in shares of Beta Bionics in the 1st quarter worth approximately $715,000. Woodline Partners LP acquired a new position in shares of Beta Bionics in the 1st quarter worth approximately $1,530,000. Strs Ohio acquired a new position in shares of Beta Bionics in the 1st quarter worth approximately $29,000. Finally, Rhumbline Advisers acquired a new position in shares of Beta Bionics in the 1st quarter worth approximately $158,000.

Beta Bionics Stock Performance

Shares of BBNX opened at $13.19 on Thursday. The firm has a market capitalization of $587.75 million, a price-to-earnings ratio of -8.74 and a beta of 3.40. The business’s fifty day moving average price is $11.55 and its two-hundred day moving average price is $16.23. Beta Bionics, Inc. has a 52 week low of $8.80 and a 52 week high of $32.71.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings data on Tuesday, April 21st. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.04. The firm had revenue of $27.63 million for the quarter. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%. As a group, research analysts forecast that Beta Bionics, Inc. will post -2.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus dropped their target price on Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Wall Street Zen lowered Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. Robert W. Baird decreased their price target on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Leerink Partners decreased their price target on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Truist Financial decreased their price target on Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Beta Bionics currently has an average rating of “Moderate Buy” and an average price target of $19.70.

Insider Buying and Selling

In other news, insider Mike Mensinger sold 4,378 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $55,206.58. Following the transaction, the insider owned 184,415 shares of the company’s stock, valued at $2,325,473.15. This represents a 2.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Jon Russell sold 4,222 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $53,239.42. Following the completion of the transaction, the insider directly owned 173,849 shares in the company, valued at approximately $2,192,235.89. This trade represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 27,687 shares of company stock worth $343,586 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

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.