Beta Bionics (NASDAQ:BBNX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Beta Bionics (NASDAQ:BBNX) from a sell rating to a hold rating in a report released on Saturday.

BBNX has been the subject of a number of other reports. Bank of America cut Beta Bionics from a “buy” rating to a “neutral” rating in a report on Friday, January 9th. Lake Street Capital set a $20.00 price target on shares of Beta Bionics in a research note on Wednesday, February 18th. Robert W. Baird reduced their price target on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Stifel Nicolaus lowered their price objective on shares of Beta Bionics from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $25.00 price objective on shares of Beta Bionics in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.20.

Beta Bionics Stock Down 0.7%

Shares of NASDAQ BBNX opened at $10.73 on Friday. The business’s 50 day moving average is $13.70 and its two-hundred day moving average is $21.76. Beta Bionics has a 52-week low of $8.89 and a 52-week high of $32.71. The firm has a market cap of $475.98 million, a price-to-earnings ratio of -5.50 and a beta of 5.60.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate 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 business had revenue of $32.12 million during the quarter.

Insider Transactions at Beta Bionics

In related news, insider Mike Mensinger sold 7,800 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $29.61, for a total value of $230,958.00. Following the sale, the insider owned 82,952 shares of the company’s stock, valued at $2,456,208.72. This trade represents a 8.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen Feider sold 20,000 shares of Beta Bionics stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.53, for a total transaction of $590,600.00. Following the completion of the transaction, the chief financial officer owned 42,614 shares of the company’s stock, valued at $1,258,391.42. This represents a 31.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 34,705 shares of company stock valued at $945,653.

Institutional Investors Weigh In On Beta Bionics

A number of large investors have recently modified their holdings of the company. GPS Wealth Strategies Group LLC lifted its position 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 during the last quarter. Strs Ohio purchased a new position in Beta Bionics in the first quarter valued at $29,000. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 1,594 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Beta Bionics in the fourth quarter valued at $52,000. Finally, Legal & General Group Plc raised its stake in Beta Bionics by 197.4% in the second quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after buying an additional 2,639 shares in the last quarter.

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.