Beta Bionics, Inc. (NASDAQ:BBNX) Receives Average Rating of “Moderate Buy” from Analysts

Beta Bionics, Inc. (NASDAQ:BBNX) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.4167.

A number of brokerages recently weighed in on BBNX. Truist Financial reduced their target price on shares of Beta Bionics from $37.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. UBS Group raised Beta Bionics to a “strong-buy” rating in a research report on Monday, February 9th. Robert W. Baird set a $28.00 target price on Beta Bionics in a research report on Tuesday, December 16th. Lake Street Capital boosted their target price on Beta Bionics from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Bank of America cut shares of Beta Bionics from a “buy” rating to a “neutral” rating in a research note on Friday, January 9th.

Beta Bionics Stock Up 2.9%

Beta Bionics stock opened at $13.94 on Monday. The company has a 50 day moving average of $22.68 and a 200-day moving average of $22.63. Beta Bionics has a twelve month low of $8.89 and a twelve month high of $32.71. The stock has a market capitalization of $613.78 million and a PE ratio of -3.19.

Insiders Place Their Bets

In other Beta Bionics news, CFO Stephen Feider sold 20,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $29.53, for a total transaction of $590,600.00. Following 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mike Mensinger sold 7,800 shares of the firm’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 transaction, the insider owned 82,952 shares of the company’s stock, valued at $2,456,208.72. The trade was a 8.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 32,490 shares of company stock valued at $960,835.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BBNX. GPS Wealth Strategies Group LLC raised its stake in shares of Beta Bionics by 45.0% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock worth $29,000 after purchasing an additional 450 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Beta Bionics by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock worth $10,105,000 after buying an additional 931 shares during the last quarter. Deutsche Bank AG raised its position in Beta Bionics by 3.4% during the fourth quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock worth $1,197,000 after acquiring an additional 1,296 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Beta Bionics by 203.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after acquiring an additional 1,594 shares during the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Beta Bionics by 4.0% in the 3rd quarter. Verition Fund Management LLC now owns 47,299 shares of the company’s stock valued at $940,000 after acquiring an additional 1,823 shares during the period.

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.