Beta Bionics (NASDAQ:BBNX) Now Covered by Analysts at William Blair

Investment analysts at William Blair started coverage on shares of Beta Bionics (NASDAQ:BBNX) in a note issued to investors on Friday. The firm set a “market perform” rating on the stock.

BBNX has been the topic of several other reports. Weiss Ratings raised Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Bank of America cut their target price on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Truist Financial boosted their price target on shares of Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. The Goldman Sachs Group upped their price target on shares of Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Finally, UBS Group assumed coverage on shares of Beta Bionics in a research report on Tuesday, July 28th. They set a “buy” rating and a $22.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.10.

Beta Bionics Stock Down 2.6%

Shares of Beta Bionics stock opened at $19.48 on Friday. The firm has a market cap of $876.41 million, a price-to-earnings ratio of -11.81 and a beta of 3.13. The business has a 50-day moving average price of $16.05 and a 200-day moving average price of $13.22. Beta Bionics has a twelve month low of $8.80 and a twelve month high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.09. The company had revenue of $32.01 million for the quarter. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%. On average, equities analysts expect that Beta Bionics will post -2.1 EPS for the current fiscal year.

Insider Transactions at Beta Bionics

In other news, Director Christy Jones sold 2,811 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $14.00, for a total transaction of $39,354.00. Following the transaction, the director owned 27,400 shares of the company’s stock, valued at approximately $383,600. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Jon Russell sold 4,222 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 value of $53,239.42. Following the sale, the insider owned 173,849 shares in the company, valued at $2,192,235.89. The trade was a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 36,355 shares of company stock worth $512,943. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Beta Bionics

Several hedge funds have recently added to or reduced their stakes in BBNX. Eventide Asset Management LLC lifted its stake in Beta Bionics by 0.8% in the fourth quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock worth $152,233,000 after purchasing an additional 37,476 shares during the last quarter. Soleus Capital Management L.P. grew its stake in shares of 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 valued at $55,622,000 after buying an additional 424,817 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Beta Bionics in the second quarter worth approximately $52,340,000. Vanguard Group Inc. raised its holdings in shares of Beta Bionics by 213.5% in the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after buying an additional 1,509,217 shares during the period. Finally, Eversept Partners LP lifted its stake in shares of Beta Bionics by 108.6% during the 1st quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock worth $14,177,000 after acquiring an additional 736,576 shares during the last quarter.

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.