Beta Bionics (NASDAQ:BBNX) Stock Price Up 8.7% – Here’s Why

Beta Bionics, Inc. (NASDAQ:BBNX) shares were up 8.7% during trading on Wednesday . The company traded as high as $14.77 and last traded at $14.8650. Approximately 91,405 shares traded hands during trading, a decline of 92% from the average session volume of 1,128,585 shares. The stock had previously closed at $13.67.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BBNX. Stifel Nicolaus reduced 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. The Goldman Sachs Group dropped their price objective on Beta Bionics from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Weiss Ratings lowered Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. Wall Street Zen cut Beta Bionics from a “hold” rating to a “sell” rating in a report on Sunday, March 29th. Finally, Bank of America decreased their target price 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.70.

Beta Bionics Trading Up 7.6%

The firm has a market cap of $655.24 million, a price-to-earnings ratio of -9.78 and a beta of 3.40. The company has a 50 day moving average of $11.89 and a 200 day moving average of $15.78.

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

Insider Buying and Selling at Beta Bionics

In other news, CFO Stephen Feider sold 6,676 shares of Beta Bionics stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $84,184.36. Following the transaction, the chief financial officer owned 166,053 shares in the company, valued at $2,093,928.33. The trade was a 3.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christy Jones sold 2,811 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $14.00, for a total value of $39,354.00. Following the completion of the transaction, the director owned 27,400 shares of the company’s stock, valued at $383,600. This represents a 9.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,687 shares of company stock worth $343,586 over the last three months. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new position in shares of Beta Bionics in the fourth quarter valued at approximately $52,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Beta Bionics by 1,075.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock worth $61,000 after acquiring an additional 1,818 shares during the period. EverSource Wealth Advisors LLC lifted its position in Beta Bionics by 203.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after acquiring an additional 1,594 shares in the last quarter. Strs Ohio bought a new stake in Beta Bionics in the 1st quarter valued at $29,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Beta Bionics by 139.1% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 3,202 shares of the company’s stock worth $64,000 after purchasing an additional 1,863 shares during the period.

About Beta Bionics

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.