Jennison Associates LLC Decreases Stake in Beta Bionics, Inc. $BBNX

Jennison Associates LLC reduced its position in Beta Bionics, Inc. (NASDAQ:BBNX) by 12.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,185 shares of the company’s stock after selling 8,426 shares during the period. Jennison Associates LLC’s holdings in Beta Bionics were worth $862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of Beta Bionics in the first quarter worth $316,000. Values First Advisors Inc. bought a new stake in shares of Beta Bionics in the first quarter worth $457,000. TD Asset Management Inc bought a new position in shares of Beta Bionics during the first quarter worth about $488,000. Charles Schwab Investment Management Inc. bought a new position in shares of Beta Bionics during the first quarter worth about $1,244,000. Finally, Deutsche Bank AG bought a new position in shares of Beta Bionics during the first quarter worth about $148,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Truist Financial reaffirmed a “buy” rating and set a $32.00 price target (up previously from $28.00) on shares of Beta Bionics in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $32.00 price target (up previously from $26.00) on shares of Beta Bionics in a research report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $31.00 price target (up previously from $26.00) on shares of Beta Bionics in a research report on Wednesday. The Goldman Sachs Group increased their price target on shares of Beta Bionics from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wall Street Zen raised shares of Beta Bionics from a “strong sell” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Beta Bionics has an average rating of “Moderate Buy” and an average price target of $28.22.

Beta Bionics Stock Up 1.6%

Shares of NASDAQ BBNX opened at $27.22 on Friday. The firm’s 50-day moving average price is $21.86 and its two-hundred day moving average price is $17.28. Beta Bionics, Inc. has a 52-week low of $8.89 and a 52-week high of $30.47. The stock has a market capitalization of $1.20 billion and a P/E ratio of -6.23.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.12. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%. The firm had revenue of $27.25 million for the quarter, compared to analysts’ expectations of $23.92 million. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Buying and Selling at Beta Bionics

In other news, CFO Stephen Feider sold 15,018 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $20.76, for a total transaction of $311,773.68. Following the completion of the transaction, the chief financial officer owned 44,041 shares of the company’s stock, valued at approximately $914,291.16. The trade was a 25.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Hopman sold 16,158 shares of Beta Bionics stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $16.61, for a total value of $268,384.38. Following the sale, the insider directly owned 34,132 shares in the company, valued at approximately $566,932.52. This trade represents a 32.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 68,901 shares of company stock valued at $1,314,543.

About Beta Bionics

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.