Analysts Set Beta Bionics, Inc. (NASDAQ:BBNX) Target Price at $23.20

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $23.20.

A number of research analysts have issued reports on the company. Lake Street Capital set a $20.00 price objective on Beta Bionics in a research note on Wednesday, February 18th. Wall Street Zen cut Beta Bionics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Beta Bionics in a research report on Thursday, January 15th. Truist Financial dropped their price target on shares of Beta Bionics from $37.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Finally, Stifel Nicolaus cut their price objective on shares of Beta Bionics from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th.

Insider Transactions at Beta Bionics

In other news, insider Mike Mensinger sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $30.10, for a total value of $66,220.00. Following the transaction, the insider owned 80,752 shares in the company, valued at approximately $2,430,635.20. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 6,905 shares of company stock valued at $124,095 over the last three months.

Institutional Investors Weigh In On Beta Bionics

Institutional investors and hedge funds have recently made changes to their positions in the company. Eventide Asset Management LLC raised its stake in shares of Beta Bionics by 0.8% in the fourth quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock worth $152,233,000 after purchasing an additional 37,476 shares during the last quarter. Farallon Capital Management LLC lifted its stake in Beta Bionics by 2.6% during the 3rd quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock valued at $85,718,000 after acquiring an additional 110,000 shares during the period. Soleus Capital Management L.P. boosted its holdings in shares of Beta Bionics by 12.5% during the 2nd quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock valued at $55,622,000 after acquiring an additional 424,817 shares during the last quarter. Sands Capital Alternatives LLC boosted its holdings in shares of Beta Bionics by 15.0% during the 2nd quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock valued at $51,981,000 after acquiring an additional 466,331 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 1,509,217 shares during the period.

Beta Bionics Stock Performance

Shares of NASDAQ BBNX opened at $9.93 on Tuesday. The company has a 50 day simple moving average of $12.45 and a two-hundred day simple moving average of $20.99. Beta Bionics has a fifty-two week low of $8.89 and a fifty-two week high of $32.71. The company has a market capitalization of $440.69 million, a price-to-earnings ratio of -5.09 and a beta of 5.06.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.12. The firm had revenue of $32.12 million for the quarter. Beta Bionics had a negative return on equity of 20.29% and a negative net margin of 73.02%.

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.