Beta Bionics, Inc. (NASDAQ:BBNX) Short Interest Up 24.5% in March

Beta Bionics, Inc. (NASDAQ:BBNX) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 7,005,310 shares, an increase of 24.5% from the February 26th total of 5,626,149 shares. Based on an average daily trading volume, of 1,104,702 shares, the short-interest ratio is currently 6.3 days. Approximately 15.8% of the company’s shares are short sold.

Beta Bionics Stock Performance

Shares of BBNX stock traded up $0.19 on Wednesday, reaching $10.21. The stock had a trading volume of 219,968 shares, compared to its average volume of 1,283,623. Beta Bionics has a 1 year low of $8.89 and a 1 year high of $32.71. The stock has a market cap of $453.12 million, a P/E ratio of -5.24 and a beta of 5.60. The company has a 50 day simple moving average of $12.71 and a 200 day simple moving average of $21.15.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates 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.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BBNX. Lake Street Capital set a $20.00 price objective on shares of Beta Bionics in a research report on Wednesday, February 18th. TD Cowen assumed coverage on Beta Bionics in a report on Monday, January 26th. They issued a “hold” rating and a $17.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beta Bionics in a report on Friday. Bank of America lowered Beta Bionics from a “buy” rating to a “neutral” rating in a research report on Friday, January 9th. Finally, UBS Group raised Beta Bionics to a “strong-buy” rating in a research report on Monday, February 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.20.

Insider Transactions at Beta Bionics

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

Hedge Funds Weigh In On Beta Bionics

Institutional investors have recently bought and sold shares of the stock. GPS Wealth Strategies Group LLC raised its stake in shares of Beta Bionics by 45.0% in the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock worth $29,000 after buying an additional 450 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Beta Bionics by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock worth $10,105,000 after acquiring an additional 931 shares during the period. Deutsche Bank AG boosted its position in shares of Beta Bionics by 3.4% in the fourth quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock worth $1,197,000 after purchasing an additional 1,296 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Beta Bionics by 203.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock worth $47,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Beta Bionics during the 4th quarter valued at $52,000.

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.