Perceptive Advisors LLC Acquires 240,000 Shares of Beta Bionics, Inc. $BBNX

Perceptive Advisors LLC boosted its holdings in shares of Beta Bionics, Inc. (NASDAQ:BBNX) by 39.8% during the first quarter, Holdings Channel.com reports. The firm owned 842,944 shares of the company’s stock after acquiring an additional 240,000 shares during the period. Perceptive Advisors LLC’s holdings in Beta Bionics were worth $8,446,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Beta Bionics in the 1st quarter worth $95,000. Goldman Sachs Group Inc. bought a new stake in shares of Beta Bionics in the 1st quarter worth about $715,000. Woodline Partners LP purchased a new stake in shares of Beta Bionics during the 1st quarter valued at about $1,530,000. Strs Ohio purchased a new stake in shares of Beta Bionics during the 1st quarter valued at about $29,000. Finally, Rhumbline Advisers bought a new position in shares of Beta Bionics in the 1st quarter valued at about $158,000.

Insider Buying and Selling at Beta Bionics

In related news, CFO Stephen Feider sold 6,676 shares of Beta Bionics stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $84,184.36. Following the completion of the sale, the chief financial officer directly owned 166,053 shares in the company, valued at $2,093,928.33. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christy Jones sold 2,811 shares of Beta Bionics stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $14.00, for a total value of $39,354.00. Following the completion of the sale, the director owned 27,400 shares of the company’s stock, valued at $383,600. The trade was a 9.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 worth $553,961. Insiders own 5.30% of the company’s stock.

Beta Bionics Stock Performance

Shares of NASDAQ BBNX opened at $12.83 on Friday. Beta Bionics, Inc. has a 52-week low of $8.80 and a 52-week high of $32.71. The firm has a market capitalization of $577.22 million, a price-to-earnings ratio of -7.78 and a beta of 3.04. The stock has a 50 day moving average price of $14.99 and a 200 day moving average price of $13.21.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.09. The company had revenue of $32.01 million for the quarter. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%. Analysts forecast that Beta Bionics, Inc. will post -2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BBNX has been the subject of several recent research reports. Truist Financial lifted their price target on Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. UBS Group assumed coverage on Beta Bionics in a research report on Tuesday, July 28th. They set a “buy” rating and a $22.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beta Bionics in a research note on Friday, July 17th. Leerink Partners dropped their target price 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, The Goldman Sachs Group boosted their target price on Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Beta Bionics currently has an average rating of “Moderate Buy” and a consensus target price of $20.10.

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.