Beta Bionics, Inc. (NASDAQ:BBNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $19.70.

BBNX has been the subject of several recent analyst reports. Weiss Ratings cut shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Bank of America cut their price objective 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. The Goldman Sachs Group cut their price objective on shares of Beta Bionics from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Stifel Nicolaus cut their price objective on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Finally, Leerink Partners cut their price objective on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd.

Beta Bionics Stock Up 5.2%

Shares of NASDAQ BBNX opened at $13.88 on Friday. The firm has a 50-day simple moving average of $11.63 and a 200-day simple moving average of $16.11. The stock has a market capitalization of $618.49 million, a price-to-earnings ratio of -9.19 and a beta of 3.40. Beta Bionics has a 52 week low of $8.80 and a 52 week high of $32.71.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings data 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. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. The firm had revenue of $27.63 million during the quarter. As a group, equities research analysts expect that Beta Bionics will post -2.22 EPS for the current year.

Insider Activity

In other Beta Bionics news, insider Steven Jon Russell sold 4,222 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $53,239.42. Following the completion of the transaction, the insider owned 173,849 shares of the company’s stock, valued at $2,192,235.89. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a 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 the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $14.00, for a total transaction of $39,354.00. Following the transaction, the director directly owned 27,400 shares of the company’s stock, valued at approximately $383,600. This trade represents a 9.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 27,687 shares of company stock valued at $343,586 in the last quarter. Insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC boosted its stake in Beta Bionics by 39.8% during the first quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock worth $8,446,000 after buying an additional 240,000 shares during the period. Eversept Partners LP boosted its stake in Beta Bionics by 108.6% during the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock worth $14,177,000 after buying an additional 736,576 shares during the period. Quantinno Capital Management LP boosted its stake in Beta Bionics by 112.9% during the first quarter. Quantinno Capital Management LP now owns 67,879 shares of the company’s stock worth $680,000 after buying an additional 35,996 shares during the period. Lazard Asset Management LLC purchased a new position in Beta Bionics during the first quarter worth about $720,000. Finally, Granahan Investment Management LLC boosted its stake in Beta Bionics by 104.9% during the first quarter. Granahan Investment Management LLC now owns 248,449 shares of the company’s stock worth $2,489,000 after buying an additional 127,203 shares during the period.

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.