Beta Bionics (NASDAQ:BBNX) Downgraded to “Sell” Rating by Wall Street Zen

Beta Bionics (NASDAQ:BBNX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

BBNX has been the subject of several other research reports. Truist Financial dropped their price target on shares of Beta Bionics from $37.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Beta Bionics in a research note on Monday, December 29th. Robert W. Baird dropped their price objective on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Lake Street Capital set a $20.00 target price on Beta Bionics in a research report on Wednesday, February 18th. Finally, UBS Group upgraded Beta Bionics to a “strong-buy” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.20.

Beta Bionics Trading Down 6.6%

Shares of BBNX opened at $10.76 on Friday. The firm has a market capitalization of $477.53 million, a PE ratio of -5.52 and a beta of 5.60. The stock’s 50 day moving average is $13.06 and its two-hundred day moving average is $21.40. Beta Bionics has a twelve month low of $8.89 and a twelve month high of $32.71.

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

Insider Buying and Selling

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

Institutional Trading of Beta Bionics

A number of institutional investors have recently added to or reduced their stakes in BBNX. Vanguard Group Inc. raised its position in Beta Bionics by 213.5% in the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after purchasing an additional 1,509,217 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Beta Bionics in the fourth quarter worth about $40,437,000. Divisadero Street Capital Management LP acquired a new stake in shares of Beta Bionics in the second quarter valued at about $13,817,000. Eversept Partners LP acquired a new stake in shares of Beta Bionics in the fourth quarter valued at about $20,667,000. Finally, 12 West Capital Management LP purchased a new stake in shares of Beta Bionics during the 4th quarter valued at about $17,520,000.

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.