Lazard Asset Management LLC Buys New Holdings in Beta Bionics, Inc. $BBNX

Lazard Asset Management LLC purchased a new position in shares of Beta Bionics, Inc. (NASDAQ:BBNX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 71,905 shares of the company’s stock, valued at approximately $720,000. Lazard Asset Management LLC owned 0.16% of Beta Bionics as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Beta Bionics during the first quarter valued at approximately $29,000. Summit Securities Group LLC bought a new position in shares of Beta Bionics in the 4th quarter worth $52,000. Legal & General Group Plc grew its position in Beta Bionics by 197.4% in the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after purchasing an additional 2,639 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Beta Bionics by 1,075.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock valued at $61,000 after purchasing an additional 1,818 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Beta Bionics during the 1st quarter valued at $95,000.

Beta Bionics Trading Down 4.5%

Shares of NASDAQ:BBNX opened at $13.91 on Thursday. The stock has a market cap of $625.81 million, a PE ratio of -8.43 and a beta of 3.13. The stock’s fifty day simple moving average is $15.12 and its two-hundred day simple moving average is $13.11. Beta Bionics, Inc. has a 1-year low of $8.80 and a 1-year high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.09. The firm had revenue of $32.01 million during the quarter. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. On average, sell-side analysts forecast that Beta Bionics, Inc. will post -2.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Leerink Partners dropped their price objective on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Bank of America decreased their target price on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Stifel Nicolaus lowered their target price on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Truist Financial raised their price target on shares of Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, UBS Group initiated coverage on Beta Bionics in a research note on Tuesday, July 28th. They set a “buy” rating and a $22.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Beta Bionics has an average rating of “Moderate Buy” and an average target price of $20.10.

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, CFO Stephen Feider sold 6,676 shares of the company’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 $84,184.36. Following the completion of the sale, the chief financial officer directly owned 166,053 shares of the company’s stock, valued at approximately $2,093,928.33. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $14.00, for a total transaction of $39,354.00. Following the completion of the sale, the director owned 27,400 shares of the company’s stock, valued at approximately $383,600. This trade represents a 9.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,351 shares of company stock valued at $553,961 in the last quarter. 5.30% of the stock is owned by company insiders.

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.