Beta Bionics (NASDAQ:BBNX) Upgraded by Wall Street Zen to “Hold” Rating

Beta Bionics (NASDAQ:BBNX) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other analysts also recently issued reports on BBNX. Stifel Nicolaus cut their price objective on Beta Bionics from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Beta Bionics in a research report on Thursday, January 15th. Truist Financial lowered their target price on shares of Beta Bionics from $37.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Robert W. Baird dropped their price target on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Finally, UBS Group upgraded shares of Beta Bionics to a “strong-buy” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.20.

Beta Bionics Stock Performance

BBNX opened at $10.73 on Friday. The stock has a market capitalization of $475.98 million, a PE ratio of -5.50 and a beta of 5.60. Beta Bionics has a one year low of $8.89 and a one year high of $32.71. The business’s 50 day moving average price is $13.70 and its 200 day moving average price is $21.74.

Beta Bionics (NASDAQ:BBNX) last posted its 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. Beta Bionics had a negative return on equity of 20.29% and a negative net margin of 73.02%.The company had revenue of $32.12 million during the quarter.

Insider Activity

In other news, insider Mike Mensinger sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $30.10, for a total value of $66,220.00. Following the completion of the transaction, the insider owned 80,752 shares of the company’s stock, valued at approximately $2,430,635.20. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 shares were sold at an average price of $29.53, for a total transaction of $590,600.00. Following the completion of the transaction, the chief financial officer owned 42,614 shares of the company’s stock, valued at $1,258,391.42. This trade represents a 31.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,705 shares of company stock worth $945,653 in the last three months.

Institutional Trading of Beta Bionics

Hedge funds have recently modified their holdings of the stock. GPS Wealth Strategies Group LLC boosted 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 period. Summit Securities Group LLC purchased a new stake in Beta Bionics during the 4th quarter worth about $52,000. Caitong International Asset Management Co. Ltd raised its position in Beta Bionics by 1,075.7% in 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 in the last quarter. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 1,594 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Beta Bionics in 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.