Brokerages Set Beta Bionics, Inc. (NASDAQ:BBNX) Target Price at $28.22

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $28.2222.

A number of research firms have recently weighed in on BBNX. Wall Street Zen upgraded Beta Bionics from a “strong sell” rating to a “hold” rating in a report on Saturday. Truist Financial reaffirmed a “buy” rating and issued a $32.00 target price (up from $28.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Lake Street Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of Beta Bionics in a research report on Wednesday, October 29th. Piper Sandler restated an “overweight” rating and issued a $32.00 price objective (up previously from $26.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Beta Bionics in a research note on Wednesday, October 8th.

Beta Bionics Trading Up 1.8%

Beta Bionics stock opened at $27.70 on Friday. The firm has a 50 day moving average of $22.06 and a 200 day moving average of $17.44. The firm has a market capitalization of $1.22 billion and a price-to-earnings ratio of -6.34. Beta Bionics has a 12-month low of $8.89 and a 12-month high of $30.47.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Tuesday, October 28th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.12. The firm had revenue of $27.25 million during the quarter, compared to the consensus estimate of $23.92 million. Beta Bionics had a negative return on equity of 35.72% and a negative net margin of 87.89%. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Activity

In other news, CFO Stephen Feider sold 4,982 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $21.69, for a total value of $108,059.58. Following the sale, the chief financial officer directly owned 44,041 shares in the company, valued at $955,249.29. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Hopman sold 11,411 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $20.56, for a total value of $234,610.16. Following the completion of the transaction, the insider owned 31,215 shares of the company’s stock, valued at $641,780.40. The trade was a 26.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 68,901 shares of company stock worth $1,314,543 in the last three months.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GPS Wealth Strategies Group LLC grew its holdings in Beta Bionics by 45.0% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock worth $29,000 after buying an additional 450 shares in the last quarter. Strs Ohio bought a new position in Beta Bionics during the 1st quarter valued at $29,000. CWM LLC bought a new stake in shares of Beta Bionics during the 2nd quarter worth $58,000. Legal & General Group Plc boosted its stake in shares of Beta Bionics by 197.4% during the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock worth $58,000 after acquiring an additional 2,639 shares in the last quarter. Finally, Corebridge Financial Inc. bought a new stake in shares of Beta Bionics during the 1st quarter worth $79,000.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.