Beta Bionics, Inc. $BBNX Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in shares of Beta Bionics, Inc. (NASDAQ:BBNX) by 112.9% during the first quarter, Holdings Channel reports. The firm owned 67,879 shares of the company’s stock after purchasing an additional 35,996 shares during the quarter. Quantinno Capital Management LP’s holdings in Beta Bionics were worth $680,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of 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 Beta Bionics during the 4th quarter worth approximately $40,437,000. Eversept Partners LP acquired a new stake in Beta Bionics during the 4th quarter worth approximately $20,667,000. 12 West Capital Management LP purchased a new position in Beta Bionics in the 4th quarter valued at approximately $17,520,000. Finally, Bruce & Co. Inc. purchased a new position in Beta Bionics in the 1st quarter valued at approximately $5,518,000.

Insider Buying and Selling at Beta Bionics

In related news, insider Mike Mensinger sold 4,378 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $55,206.58. Following the completion of the sale, the insider owned 184,415 shares in the company, valued at $2,325,473.15. The trade was a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Jon Russell sold 4,222 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $53,239.42. Following the completion of the transaction, the insider directly owned 173,849 shares of the company’s stock, valued at $2,192,235.89. This trade represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 40,351 shares of company stock worth $553,961. Corporate insiders own 5.30% of the company’s stock.

Beta Bionics Trading Up 8.3%

Beta Bionics stock opened at $19.02 on Wednesday. The company has a fifty day simple moving average of $15.83 and a 200-day simple moving average of $13.14. The stock has a market cap of $855.71 million, a P/E ratio of -11.53 and a beta of 3.13. Beta Bionics, Inc. has a 12-month low of $8.80 and a 12-month high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%.The firm had revenue of $32.01 million for the quarter. As a group, sell-side analysts forecast that Beta Bionics, Inc. will post -2.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BBNX shares. Leerink Partners cut their price objective on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Bank of America lowered their target price on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Beta Bionics in a report on Friday, July 17th. The Goldman Sachs Group increased their price target on Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Finally, Truist Financial boosted their price objective on Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Beta Bionics presently has a consensus rating of “Moderate Buy” and an average target price of $20.10.

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.