Beta Bionics, Inc. (NASDAQ:BBNX) Short Interest Up 64.4% in September

Beta Bionics, Inc. (NASDAQ:BBNX) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 6,380,000 shares, an increase of 64.4% from the September 15th total of 3,880,000 shares. Currently, 19.5% of the shares of the company are sold short. Based on an average daily volume of 754,600 shares, the days-to-cover ratio is presently 8.5 days. Based on an average daily volume of 754,600 shares, the days-to-cover ratio is presently 8.5 days. Currently, 19.5% of the shares of the company are sold short.

Insider Buying and Selling at Beta Bionics

In related news, insider Mark Hopman sold 16,158 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $16.61, for a total transaction of $268,384.38. Following the completion of the transaction, the insider directly owned 34,132 shares in the company, valued at $566,932.52. This represents a 32.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the chief financial officer directly owned 44,041 shares in the company, valued at $914,291.16. This trade represents a 25.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,901 shares of company stock valued at $1,314,543.

Institutional Trading of Beta Bionics

A number of hedge funds have recently modified their holdings of BBNX. Rhumbline Advisers acquired a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $158,000. Bank of New York Mellon Corp acquired a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $316,000. Values First Advisors Inc. acquired a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $457,000. Jennison Associates LLC acquired a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $828,000. Finally, TD Asset Management Inc acquired a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $488,000.

Beta Bionics Stock Performance

Beta Bionics stock opened at $21.22 on Thursday. Beta Bionics has a 1 year low of $8.89 and a 1 year high of $26.66. The company’s 50-day moving average is $20.79 and its two-hundred day moving average is $16.53.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on BBNX shares. Robert W. Baird set a $17.00 price objective on shares of Beta Bionics and gave the stock a “neutral” rating in a report on Wednesday, July 30th. The Goldman Sachs Group set a $26.00 target price on shares of Beta Bionics and gave the company a “buy” rating in a research report on Wednesday, October 1st. Stifel Nicolaus started coverage on shares of Beta Bionics in a research report on Tuesday. They set a “buy” rating and a $26.00 target price on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Beta Bionics in a research report on Wednesday, October 8th. Finally, Truist Financial upped their target price on shares of Beta Bionics from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.56.

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.