Beta Bionics, Inc. $BBNX is Eventide Asset Management LLC’s 5th Largest Position

Eventide Asset Management LLC increased its holdings in Beta Bionics, Inc. (NASDAQ:BBNX) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,994,728 shares of the company’s stock after acquiring an additional 37,476 shares during the quarter. Beta Bionics comprises approximately 2.4% of Eventide Asset Management LLC’s portfolio, making the stock its 5th biggest position. Eventide Asset Management LLC owned 11.34% of Beta Bionics worth $152,233,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BBNX. Vanguard Group Inc. raised its holdings in Beta Bionics by 213.5% in the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after purchasing an additional 1,509,217 shares in the last quarter. Soleus Capital Management L.P. raised its holdings in Beta Bionics by 12.5% in the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock worth $55,622,000 after purchasing an additional 424,817 shares in the last quarter. Norges Bank bought a new position in Beta Bionics in the fourth quarter worth $10,338,000. Pura Vida Investments LLC raised 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 purchasing an additional 278,750 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Beta Bionics by 47.0% in the third quarter. Millennium Management LLC now owns 796,964 shares of the company’s stock worth $15,836,000 after purchasing an additional 254,766 shares in the last quarter.

Analyst Upgrades and Downgrades

BBNX has been the subject of a number of research reports. Lake Street Capital set a $20.00 price objective on Beta Bionics in a report on Wednesday, February 18th. Bank of America decreased their price objective on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Robert W. Baird decreased their price objective on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Leerink Partners decreased their price objective on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Finally, Truist Financial decreased their price objective on Beta Bionics from $25.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.70.

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, insider Steven Jon Russell sold 4,222 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 transaction of $53,239.42. Following the completion of the sale, the insider directly owned 173,849 shares in the company, valued at $2,192,235.89. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mike Mensinger sold 4,378 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $55,206.58. Following the sale, the insider owned 184,415 shares of the company’s stock, valued at approximately $2,325,473.15. This represents a 2.32% 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. Over the last quarter, insiders sold 27,687 shares of company stock worth $343,586. 5.30% of the stock is owned by corporate insiders.

Beta Bionics Stock Performance

NASDAQ BBNX opened at $14.53 on Friday. Beta Bionics, Inc. has a one year low of $8.80 and a one year high of $32.71. The stock has a 50-day moving average of $11.31 and a 200 day moving average of $16.70. The company has a market capitalization of $647.46 million, a price-to-earnings ratio of -9.62 and a beta of 3.40.

Beta Bionics (NASDAQ:BBNX) last announced its earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.04. The business had revenue of $27.63 million for the quarter. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%. On average, equities analysts predict that Beta Bionics, Inc. will post -2.22 earnings per share for the current fiscal year.

Beta Bionics 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.