Granahan Investment Management LLC Boosts Stake in Beta Bionics, Inc. $BBNX

Granahan Investment Management LLC raised its stake in Beta Bionics, Inc. (NASDAQ:BBNX) by 104.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 248,449 shares of the company’s stock after purchasing an additional 127,203 shares during the quarter. Granahan Investment Management LLC’s holdings in Beta Bionics were worth $2,489,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Beta Bionics in the first quarter valued at $95,000. Goldman Sachs Group Inc. acquired a new stake in Beta Bionics in the 1st quarter valued at about $715,000. Woodline Partners LP acquired a new stake in Beta Bionics in the 1st quarter valued at about $1,530,000. Strs Ohio purchased a new position in shares of Beta Bionics in the 1st quarter valued at about $29,000. Finally, Rhumbline Advisers purchased a new position in shares of Beta Bionics in the 1st quarter valued at about $158,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. 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. Wall Street Zen downgraded shares of Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. Bank of America decreased their price objective on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. The Goldman Sachs Group upped their price objective on Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, Leerink Partners dropped their target price on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Beta Bionics currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

Beta Bionics Trading Down 1.7%

Shares of BBNX opened at $15.85 on Friday. The company’s 50 day simple moving average is $14.53 and its 200-day simple moving average is $13.71. The firm has a market cap of $706.28 million, a PE ratio of -10.50 and a beta of 3.04. Beta Bionics, Inc. has a 12-month low of $8.80 and a 12-month high of $32.71.

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 dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $55,206.58. Following the transaction, the insider owned 184,415 shares in the company, valued at $2,325,473.15. The trade was a 2.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stephen Feider sold 4,896 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $17.03, for a total value of $83,378.88. Following the sale, the chief financial officer directly owned 165,931 shares of the company’s stock, valued at approximately $2,825,804.93. This represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 40,351 shares of company stock valued at $553,961. Corporate insiders own 5.30% of the company’s stock.

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.