Bank of America Issues Positive Forecast for Beta Bionics (NASDAQ:BBNX) Stock Price

Beta Bionics (NASDAQ:BBNX) had its target price raised by Bank of America from $30.00 to $33.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

BBNX has been the topic of several other research reports. Stifel Nicolaus reissued a “buy” rating and set a $31.00 price target (up previously from $26.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. The Goldman Sachs Group boosted their target price on Beta Bionics from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wall Street Zen upgraded Beta Bionics from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Robert W. Baird set a $28.00 price objective on shares of Beta Bionics in a research report on Tuesday, December 16th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.70.

Beta Bionics Stock Performance

Beta Bionics stock opened at $29.57 on Monday. The company has a market cap of $1.30 billion and a P/E ratio of -6.77. Beta Bionics has a one year low of $8.89 and a one year high of $32.71. The business has a fifty day moving average of $29.08 and a two-hundred day moving average of $22.01.

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

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, Director Maria Palasis sold 1,406 shares of Beta Bionics stock in a transaction on Friday, October 31st. The shares were sold at an average price of $26.91, for a total transaction of $37,835.46. Following the completion of the sale, the director owned 9,841 shares of the company’s stock, valued at approximately $264,821.31. The trade was a 12.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen Feider sold 20,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $29.53, for a total transaction of $590,600.00. Following the sale, the chief financial officer owned 42,614 shares of the company’s stock, valued at $1,258,391.42. The trade was a 31.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,102 shares of company stock worth $970,229 in the last 90 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC increased its holdings in 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 purchasing an additional 450 shares during the last quarter. Strs Ohio bought a new position in Beta Bionics during the first quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position 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 worth $47,000 after buying an additional 1,594 shares during the period. CWM LLC bought a new stake in shares of Beta Bionics in the 2nd quarter valued at about $58,000. Finally, Legal & General Group Plc raised its position in shares of Beta Bionics by 197.4% in the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after acquiring an additional 2,639 shares during the period.

About Beta Bionics

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.