Beta Bionics, Inc. (NASDAQ:BBNX) Receives $22.56 Average PT from Brokerages

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $22.5556.

A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Beta Bionics from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Lake Street Capital began coverage on Beta Bionics in a research note on Thursday, June 12th. They set a “buy” rating and a $30.00 target price for the company. Wolfe Research began coverage on Beta Bionics in a research report on Friday, May 30th. They set an “outperform” rating and a $20.00 price objective for the company. The Goldman Sachs Group began coverage on Beta Bionics in a research report on Friday, May 30th. They set a “neutral” rating and a $16.00 price objective for the company. Finally, Robert W. Baird set a $17.00 price objective on Beta Bionics and gave the stock a “neutral” rating in a research report on Wednesday, July 30th.

Beta Bionics Stock Down 8.0%

Shares of BBNX opened at $23.29 on Friday. Beta Bionics has a 52-week low of $8.89 and a 52-week high of $26.66. The stock has a fifty day simple moving average of $17.13 and a two-hundred day simple moving average of $15.31.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.12. The firm had revenue of $23.24 million for the quarter, compared to analyst estimates of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Transactions at Beta Bionics

In related news, CFO Stephen Feider sold 1,462 shares of Beta Bionics stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $18.86, for a total value of $27,573.32. Following the completion of the sale, the chief financial officer owned 44,041 shares in the company, valued at approximately $830,613.26. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Hopman sold 11,411 shares of Beta Bionics stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $20.56, for a total transaction of $234,610.16. Following the completion of the sale, the insider owned 31,215 shares of the company’s stock, valued at $641,780.40. This trade represents a 26.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,901 shares of company stock valued at $894,710.

Institutional Investors Weigh In On Beta Bionics

A number of institutional investors have recently modified their holdings of the company. Soleus Capital Management L.P. grew its stake in shares of Beta Bionics by 12.5% in the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock valued at $55,622,000 after buying an additional 424,817 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in Beta Bionics in the 2nd quarter valued at about $3,556,000. Bank of America Corp DE grew its position in Beta Bionics by 17.4% in the 2nd quarter. Bank of America Corp DE now owns 72,245 shares of the company’s stock valued at $1,052,000 after acquiring an additional 10,687 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Beta Bionics in the 2nd quarter valued at about $3,150,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Beta Bionics in the second quarter valued at approximately $288,000.

Beta Bionics Company Profile

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.