Beta Bionics (NASDAQ:BBNX) Trading 4.7% Higher – Here’s Why

Beta Bionics, Inc. (NASDAQ:BBNX)’s share price was up 4.7% on Tuesday . The company traded as high as $18.27 and last traded at $18.3850. Approximately 115,217 shares traded hands during trading, a decline of 90% from the average session volume of 1,151,311 shares. The stock had previously closed at $17.56.

Wall Street Analyst Weigh In

BBNX has been the topic of a number of recent analyst reports. Leerink Partners dropped their price objective on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beta Bionics in a report on Friday, July 17th. Stifel Nicolaus dropped their price target on Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Truist Financial upped their price target on Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Bank of America reduced their price objective on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.10.

Beta Bionics Trading Up 4.0%

The firm’s fifty day moving average price is $15.73 and its 200-day moving average price is $13.11. The company has a market cap of $821.65 million, a P/E ratio of -11.07 and a beta of 3.13.

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

Insider Transactions at Beta Bionics

In other news, insider Mark Hopman sold 5,329 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $67,198.69. Following the sale, the insider directly owned 130,887 shares in the company, valued at approximately $1,650,485.07. The trade was a 3.91% decrease in their ownership of the stock. The transaction 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, insider Mike Mensinger sold 4,378 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $55,206.58. Following the completion of the transaction, the insider owned 184,415 shares of the company’s stock, valued at $2,325,473.15. The trade was a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 40,351 shares of company stock worth $553,961. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC raised its stake in shares of Beta Bionics by 39.8% in the 1st quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock valued at $8,446,000 after buying an additional 240,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Beta Bionics during the 4th quarter valued at about $40,437,000. Y Intercept Hong Kong Ltd increased its stake in Beta Bionics by 4,236.8% in the first quarter. Y Intercept Hong Kong Ltd now owns 485,854 shares of the company’s stock valued at $4,868,000 after acquiring an additional 474,651 shares during the period. UBS Group AG increased its stake in Beta Bionics by 96.6% in the fourth quarter. UBS Group AG now owns 251,438 shares of the company’s stock valued at $7,661,000 after acquiring an additional 123,533 shares during the period. Finally, Bruce & Co. Inc. acquired a new position in Beta Bionics in the first quarter worth about $5,518,000.

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.