Beta Bionics, Inc. (NASDAQ:BBNX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been given an average rating of “Moderate Buy” by the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.2222.

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Beta Bionics from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 1st. The Goldman Sachs Group upped their price target on Beta Bionics from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Beta Bionics in a research report on Tuesday, November 25th. Truist Financial reiterated a “buy” rating and issued a $32.00 target price (up from $28.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Finally, Piper Sandler restated an “overweight” rating and set a $32.00 price target (up previously from $26.00) on shares of Beta Bionics in a report on Wednesday, October 29th.

Beta Bionics Price Performance

Shares of NASDAQ BBNX opened at $31.34 on Wednesday. The company has a 50 day simple moving average of $24.60 and a 200 day simple moving average of $19.66. Beta Bionics has a 1 year low of $8.89 and a 1 year high of $32.71. The firm has a market cap of $1.38 billion and a PE ratio of -7.17.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share 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 analyst estimates of $23.92 million. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Activity

In related 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 value of $311,773.68. Following the transaction, the chief financial officer owned 44,041 shares in the company, valued at $914,291.16. The trade was a 25.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adam Lezack sold 1,406 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $26.87, for a total value of $37,779.22. Following the sale, the director owned 9,841 shares of the company’s stock, valued at approximately $264,427.67. The trade was a 12.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,555 shares of company stock worth $951,562 over the last ninety days.

Hedge Funds Weigh In On Beta Bionics

Several institutional investors have recently added to or reduced their stakes in BBNX. GPS Wealth Strategies Group LLC increased its stake in shares of Beta Bionics by 45.0% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after acquiring an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Beta Bionics by 203.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock worth $47,000 after purchasing an additional 1,594 shares during the period. Verition Fund Management LLC increased its stake in Beta Bionics by 4.0% in the third quarter. Verition Fund Management LLC now owns 47,299 shares of the company’s stock valued at $940,000 after purchasing an additional 1,823 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Beta Bionics by 139.1% during the third quarter. Ameritas Investment Partners Inc. now owns 3,202 shares of the company’s stock valued at $64,000 after purchasing an additional 1,863 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Beta Bionics by 10.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,558 shares of the company’s stock worth $343,000 after purchasing an additional 2,205 shares in the last quarter.

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.