Beta Bionics (NASDAQ:BBNX) Shares Gap Up – Here’s What Happened

Beta Bionics, Inc. (NASDAQ:BBNX) shares gapped up prior to trading on Friday . The stock had previously closed at $10.61, but opened at $11.21. Beta Bionics shares last traded at $12.3130, with a volume of 244,216 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BBNX shares. TD Cowen started coverage on shares of Beta Bionics in a research report on Monday, January 26th. They issued a “hold” rating and a $17.00 target price for the company. Truist Financial decreased their target price on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Weiss Ratings lowered shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Robert W. Baird reduced their price objective on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Finally, The Goldman Sachs Group reduced their price objective on shares of Beta Bionics from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.00.

Beta Bionics Stock Up 11.1%

The company has a market capitalization of $525.32 million, a PE ratio of -7.81 and a beta of 3.29. The business’s 50 day simple moving average is $10.57 and its 200 day simple moving average is $18.26.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings data on Tuesday, April 21st. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.04. The company had revenue of $27.63 million during the quarter. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. On average, analysts anticipate that Beta Bionics, Inc. will post -2.19 earnings per share for the current fiscal year.

Institutional Trading of Beta Bionics

A number of hedge funds have recently made changes to their positions in BBNX. Essex Investment Management Co. LLC acquired a new position in Beta Bionics in the third quarter worth approximately $4,423,000. JPMorgan Chase & Co. increased its holdings in Beta Bionics by 3,238.0% in the third quarter. JPMorgan Chase & Co. now owns 205,955 shares of the company’s stock worth $4,092,000 after buying an additional 199,785 shares during the last quarter. Pura Vida Investments LLC increased its holdings in Beta Bionics by 11,150.0% in the third quarter. Pura Vida Investments LLC now owns 281,250 shares of the company’s stock worth $5,588,000 after buying an additional 278,750 shares during the last quarter. SG Americas Securities LLC acquired a new position in Beta Bionics in the fourth quarter worth approximately $4,579,000. Finally, Farallon Capital Management LLC increased its holdings in Beta Bionics by 2.6% in the third quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock worth $85,718,000 after buying an additional 110,000 shares during 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.