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

Beta Bionics, Inc. (NASDAQ:BBNX) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.20.

A number of equities analysts have recently commented on the company. Bank of America downgraded Beta Bionics from a “buy” rating to a “neutral” rating in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beta Bionics in a research report on Monday, December 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $25.00 target price on shares of Beta Bionics in a report on Thursday, January 15th. Wall Street Zen downgraded Beta Bionics from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Finally, Truist Financial cut their target price on Beta Bionics from $37.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd.

Beta Bionics Stock Down 2.4%

Beta Bionics stock opened at $11.11 on Friday. Beta Bionics has a 52-week low of $8.89 and a 52-week high of $32.71. The firm has a market cap of $493.08 million, a PE ratio of -5.70 and a beta of 5.60. The company’s 50 day moving average is $17.95 and its two-hundred day moving average is $22.27.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.12. Beta Bionics had a negative return on equity of 20.29% and a negative net margin of 73.02%.The business had revenue of $32.12 million for the quarter.

Insider Buying and Selling at Beta Bionics

In related news, insider Mike Mensinger sold 7,800 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $29.61, for a total value of $230,958.00. Following the completion of the sale, the insider directly owned 82,952 shares of the company’s stock, valued at $2,456,208.72. The trade was a 8.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Feider sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $29.53, for a total value of $590,600.00. Following the transaction, the chief financial officer directly owned 42,614 shares in the company, valued at approximately $1,258,391.42. The trade was a 31.94% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 34,705 shares of company stock valued at $945,653.

Institutional Trading of Beta Bionics

A number of large investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new position in shares of Beta Bionics during the 3rd quarter valued at about $4,423,000. Pura Vida Investments LLC increased its position in Beta Bionics by 11,150.0% during the third quarter. Pura Vida Investments LLC now owns 281,250 shares of the company’s stock worth $5,588,000 after purchasing an additional 278,750 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in Beta Bionics during the second quarter worth approximately $13,817,000. Sands Capital Alternatives LLC raised its stake in Beta Bionics by 15.0% during the second quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock worth $51,981,000 after purchasing an additional 466,331 shares during the period. Finally, First Eagle Investment Management LLC acquired a new position in shares of Beta Bionics in the 3rd quarter valued at $4,634,000.

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.