Truist Financial Has Lowered Expectations for Beta Bionics (NASDAQ:BBNX) Stock Price

Beta Bionics (NASDAQ:BBNX) had its target price cut by Truist Financial from $25.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 47.78% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beta Bionics in a report on Friday, March 27th. Wall Street Zen downgraded shares of Beta Bionics from a “hold” rating to a “sell” rating in a report on Sunday, March 29th. Robert W. Baird reduced their price objective on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. The Goldman Sachs Group reduced their price objective on shares of Beta Bionics from $23.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Finally, Lake Street Capital set a $20.00 price objective on shares of Beta Bionics in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Beta Bionics Price Performance

NASDAQ BBNX opened at $12.18 on Wednesday. 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 company’s fifty day moving average is $11.66 and its two-hundred day moving average is $20.15. Beta Bionics has a 52-week low of $8.80 and a 52-week high of $32.71.

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

Hedge Funds Weigh In On Beta Bionics

Institutional investors have recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC lifted its holdings in Beta Bionics by 45.0% during the 3rd 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. Summit Securities Group LLC bought a new position in Beta Bionics during the 4th quarter valued at about $52,000. Caitong International Asset Management Co. Ltd lifted its holdings in Beta Bionics by 1,075.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock valued at $61,000 after purchasing an additional 1,818 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Beta Bionics by 203.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Strs Ohio bought a new position in Beta Bionics during the 1st quarter valued at about $29,000.

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.