Beta Bionics, Inc. (NASDAQ:BBNX) Sees Large Decrease in Short Interest

Beta Bionics, Inc. (NASDAQ:BBNX) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 5,551,550 shares, a decrease of 24.0% from the December 31st total of 7,301,052 shares. Approximately 12.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,989,334 shares, the days-to-cover ratio is currently 2.8 days. Based on an average daily trading volume, of 1,989,334 shares, the days-to-cover ratio is currently 2.8 days. Approximately 12.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research firms have issued reports on BBNX. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Beta Bionics in a report on Thursday, January 15th. TD Cowen initiated coverage on Beta Bionics in a report on Monday, January 26th. They issued a “hold” rating and a $17.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $32.00 target price (up from $26.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Robert W. Baird set a $28.00 price target on Beta Bionics in a research report on Tuesday, December 16th. Finally, Wall Street Zen downgraded Beta Bionics from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.27.

Beta Bionics Stock Performance

NASDAQ:BBNX traded down $0.96 during trading hours on Friday, hitting $13.83. 1,395,245 shares of the company’s stock traded hands, compared to its average volume of 1,462,400. The stock’s fifty day moving average price is $25.98 and its two-hundred day moving average price is $22.61. The firm has a market cap of $608.93 million and a P/E ratio of -3.16. Beta Bionics has a twelve month low of $8.89 and a twelve month high of $32.71.

Insider Activity

In other news, insider Mike Mensinger sold 7,800 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $29.61, for a total transaction of $230,958.00. Following the completion of the transaction, the insider owned 82,952 shares in the company, valued at approximately $2,456,208.72. This trade represents a 8.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Stephen Feider sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.53, for a total transaction of $590,600.00. Following the completion of the sale, the chief financial officer owned 42,614 shares in the company, valued at $1,258,391.42. The trade was a 31.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,490 shares of company stock valued at $960,835 in the last ninety days.

Institutional Trading of Beta Bionics

Several institutional investors have recently made changes to their positions in BBNX. Vanguard Group Inc. boosted its stake in shares of Beta Bionics by 213.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after acquiring an additional 1,509,217 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in shares of Beta Bionics in the 2nd quarter valued at approximately $13,817,000. Sands Capital Alternatives LLC lifted its holdings in Beta Bionics by 15.0% in the 2nd quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock worth $51,981,000 after purchasing an additional 466,331 shares during the last quarter. Soleus Capital Management L.P. boosted its position in Beta Bionics by 12.5% during the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock worth $55,622,000 after purchasing an additional 424,817 shares during the period. Finally, Pura Vida Investments LLC grew its holdings in Beta Bionics by 11,150.0% during the third quarter. Pura Vida Investments LLC now owns 281,250 shares of the company’s stock valued at $5,588,000 after purchasing an additional 278,750 shares during the last quarter.

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.