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

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.10.

BBNX has been the subject of a number of research analyst reports. Truist Financial upped their target price on Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. The Goldman Sachs Group boosted their price objective on Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Weiss Ratings raised Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. William Blair assumed coverage on Beta Bionics in a report on Friday, August 21st. They set a “market perform” rating on the stock. Finally, UBS Group began coverage on shares of Beta Bionics in a research report on Tuesday, July 28th. They issued a “buy” rating and a $22.00 price target on the stock.

Insider Buying and Selling at Beta Bionics

In related news, insider Mark Hopman sold 5,327 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.11, for a total transaction of $101,798.97. Following the completion of the sale, the insider directly owned 124,027 shares of the company’s stock, valued at $2,370,155.97. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mike Mensinger sold 4,375 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total transaction of $83,606.25. Following the sale, the insider owned 180,040 shares of the company’s stock, valued at $3,440,564.40. The trade was a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 33,262 shares of company stock valued at $604,002 over the last quarter. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Beta Bionics

A number of hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new stake in shares of Beta Bionics during the fourth quarter worth $52,000. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 during the period. Strs Ohio acquired a new position in shares of Beta Bionics in the 1st quarter valued at $29,000. Legal & General Group Plc purchased a new position in Beta Bionics in the 2nd quarter worth about $62,000. Finally, CIBC Private Wealth Group LLC raised its holdings in Beta Bionics by 630,000.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,301 shares of the company’s stock worth $192,000 after buying an additional 6,300 shares during the period.

Beta Bionics Trading Up 2.6%

Beta Bionics stock opened at $19.92 on Friday. The stock has a market cap of $896.20 million, a price-to-earnings ratio of -12.07 and a beta of 3.37. The company’s 50-day moving average price is $17.11 and its two-hundred day moving average price is $13.61. Beta Bionics has a 52 week low of $8.80 and a 52 week high of $32.71.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.09. The company had revenue of $32.01 million during the quarter. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. Research analysts expect that Beta Bionics will post -2.1 earnings per share for the current fiscal year.

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.