Beta Bionics, Inc. (NASDAQ:BBNX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $26.4167.

BBNX has been the subject of a number of recent research reports. TD Cowen assumed coverage on Beta Bionics in a research note on Monday, January 26th. They issued a “hold” rating and a $17.00 target price for the company. Lake Street Capital boosted their price objective on Beta Bionics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 9th. UBS Group began coverage on shares of Beta Bionics in a report on Sunday. They issued a “buy” rating and a $24.00 target price on the stock. Bank of America downgraded shares of Beta Bionics from a “buy” rating to a “neutral” rating in a research note on Friday, January 9th. Finally, Robert W. Baird set a $28.00 price target on shares of Beta Bionics in a research report on Tuesday, December 16th.

Beta Bionics Stock Down 1.2%

Beta Bionics stock opened at $13.08 on Monday. The firm has a fifty day simple moving average of $24.23 and a two-hundred day simple moving average of $22.66. Beta Bionics has a twelve month low of $8.89 and a twelve month high of $32.71. The company has a market capitalization of $575.85 million and a PE ratio of -2.99.

Insider Transactions at Beta Bionics

In other Beta Bionics news, insider Mike Mensinger sold 2,200 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $30.10, for a total value of $66,220.00. Following the completion of the sale, the insider owned 80,752 shares in the company, valued at approximately $2,430,635.20. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen Feider sold 20,000 shares of Beta Bionics stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.53, for a total value of $590,600.00. Following the completion of the sale, the chief financial officer owned 42,614 shares in the company, valued at approximately $1,258,391.42. This represents a 31.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,490 shares of company stock valued at $960,835.

Hedge Funds Weigh In On Beta Bionics

A number of hedge funds and other institutional investors have recently made changes to their positions in BBNX. Legato Capital Management LLC boosted its holdings in Beta Bionics by 34.6% in the fourth quarter. Legato Capital Management LLC now owns 85,660 shares of the company’s stock valued at $2,610,000 after acquiring an additional 22,035 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Beta Bionics in the 4th quarter worth about $217,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Beta Bionics during the 4th quarter valued at about $335,000. First Eagle Investment Management LLC increased its position in shares of Beta Bionics by 8.8% during the fourth quarter. First Eagle Investment Management LLC now owns 253,702 shares of the company’s stock valued at $7,730,000 after buying an additional 20,500 shares during the period. Finally, Sigma Planning Corp bought a new position in Beta Bionics in the fourth quarter worth about $411,000.

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.