Beta Bionics (NASDAQ:BBNX) Stock Price Down 4.9% After Analyst Downgrade

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) fell 4.9% during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $25.00 to $18.00. Truist Financial currently has a buy rating on the stock. Beta Bionics traded as low as $12.43 and last traded at $12.3850. 114,180 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,255,656 shares. The stock had previously closed at $13.02.

Other equities research analysts have also issued research reports about the company. Bank of America lowered Beta Bionics from a “buy” rating to a “neutral” rating in a research note on Friday, January 9th. UBS Group raised Beta Bionics to a “strong-buy” rating in a research note on Monday, February 9th. Wall Street Zen lowered Beta Bionics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beta Bionics in a research note on Friday, March 27th. Finally, The Goldman Sachs Group cut their price target on Beta Bionics from $23.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Beta Bionics has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GPS Wealth Strategies Group LLC raised 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 valued at $29,000 after acquiring an additional 450 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Beta Bionics by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock valued at $10,105,000 after acquiring an additional 931 shares during the last quarter. Deutsche Bank AG raised its holdings in Beta Bionics by 3.4% in the 4th quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock valued at $1,197,000 after acquiring an additional 1,296 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Beta Bionics by 203.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after acquiring an additional 1,594 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in Beta Bionics in the 4th quarter valued at $52,000.

Beta Bionics Stock Performance

The firm has a market capitalization of $542.74 million, a price-to-earnings ratio of -6.25 and a beta of 5.06. The business has a fifty day moving average price of $11.66 and a 200 day moving average price of $20.15.

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

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.