Beta Bionics, Inc. (NASDAQ:BBNX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.70.

Several analysts recently issued reports on the company. Truist Financial cut their price objective on Beta Bionics from $25.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Leerink Partners dropped their target price 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. Stifel Nicolaus cut their price target on Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Bank of America reduced their price target on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Finally, Weiss Ratings cut Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st.

Insider Transactions at Beta Bionics

In other Beta Bionics news, Director Christy Jones sold 2,811 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $14.00, for a total value of $39,354.00. Following the completion of the sale, the director directly owned 27,400 shares of the company’s stock, valued at $383,600. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hopman sold 5,329 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $67,198.69. Following the transaction, the insider owned 130,887 shares in the company, valued at $1,650,485.07. This represents a 3.91% 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. Over the last three months, insiders sold 40,351 shares of company stock valued at $553,961. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Beta Bionics

Several institutional investors have recently bought and sold shares of BBNX. Vanguard Group Inc. boosted its stake in shares of Beta Bionics by 213.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after acquiring an additional 1,509,217 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Beta Bionics in the 4th quarter valued at approximately $40,437,000. Eversept Partners LP lifted its holdings in Beta Bionics by 108.6% in the 1st quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock worth $14,177,000 after purchasing an additional 736,576 shares during the last quarter. 12 West Capital Management LP acquired a new stake in Beta Bionics in the 4th quarter worth approximately $17,520,000. Finally, Bruce & Co. Inc. bought a new stake in Beta Bionics during the first quarter worth approximately $5,518,000.

Beta Bionics Stock Performance

Beta Bionics stock opened at $16.18 on Thursday. Beta Bionics has a twelve month low of $8.80 and a twelve month high of $32.71. The firm has a market cap of $720.98 million, a PE ratio of -10.72 and a beta of 3.04. The firm’s 50 day moving average price is $12.87 and its two-hundred day moving average price is $14.77.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.04. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. The company had revenue of $27.63 million during the quarter. Equities analysts anticipate that Beta Bionics will post -2.22 EPS for the current fiscal year.

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.