Beta Bionics, Inc. (NASDAQ:BBNX) Given Consensus Rating of “Moderate Buy” by Brokerages

Beta Bionics, Inc. (NASDAQ:BBNX) has been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $19.70.

A number of equities analysts have recently commented on the company. Stifel Nicolaus dropped their price objective on Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Wall Street Zen downgraded Beta Bionics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. The Goldman Sachs Group lowered their target price on Beta Bionics from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Bank of America dropped their price target on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Finally, Truist Financial cut their price target on Beta Bionics from $25.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, April 15th.

Beta Bionics Trading Down 4.8%

NASDAQ:BBNX opened at $16.18 on Thursday. Beta Bionics has a 1 year low of $8.80 and a 1 year high of $32.71. The firm’s fifty day simple moving average is $12.87 and its 200 day simple moving average is $14.77. The firm has a market capitalization of $720.98 million, a PE ratio of -10.72 and a beta of 3.04.

Beta Bionics (NASDAQ:BBNX) last released its earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.04. The firm had revenue of $27.63 million during the quarter. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. As a group, analysts anticipate that Beta Bionics will post -2.22 EPS for the current fiscal year.

Insider Buying and Selling at Beta Bionics

In related news, insider Mike Mensinger sold 4,378 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $55,206.58. Following the completion of the transaction, the insider directly owned 184,415 shares in the company, valued at approximately $2,325,473.15. This represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stephen Feider sold 6,676 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $84,184.36. Following the completion of the transaction, the chief financial officer owned 166,053 shares of the company’s stock, valued at approximately $2,093,928.33. This represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 40,351 shares of company stock valued at $553,961 in the last three months. 5.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Beta Bionics

Several large investors have recently modified their holdings of BBNX. Evanson Financial LLC acquired a new stake in Beta Bionics in the 2nd quarter valued at $490,000. Perceptive Advisors LLC lifted its holdings in shares of Beta Bionics by 39.8% during the first quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock valued at $8,446,000 after acquiring an additional 240,000 shares during the period. Eversept Partners LP lifted its holdings in shares of Beta Bionics by 108.6% during the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock valued at $14,177,000 after acquiring an additional 736,576 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Beta Bionics by 112.9% in the 1st quarter. Quantinno Capital Management LP now owns 67,879 shares of the company’s stock valued at $680,000 after purchasing an additional 35,996 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Beta Bionics in the 1st quarter worth about $720,000.

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.