Beta Bionics (NASDAQ:BBNX) Reaches New 12-Month High – Still a Buy?

Beta Bionics, Inc. (NASDAQ:BBNX) shares hit a new 52-week high during trading on Friday . The company traded as high as $31.22 and last traded at $31.03, with a volume of 348864 shares traded. The stock had previously closed at $28.40.

Analyst Ratings Changes

Several brokerages have recently weighed in on BBNX. Stifel Nicolaus restated a “buy” rating and issued a $31.00 target price (up from $26.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. Truist Financial reiterated a “buy” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Beta Bionics in a research note on Wednesday. Wall Street Zen raised Beta Bionics from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Lake Street Capital reissued a “buy” rating and issued a $35.00 price target on shares of Beta Bionics in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.22.

Beta Bionics Stock Performance

The company has a market cap of $1.40 billion and a PE ratio of -7.26. The company has a 50 day simple moving average of $23.72 and a two-hundred day simple moving average of $18.82.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.12. The company had revenue of $27.25 million for the quarter, compared to analyst estimates of $23.92 million. Beta Bionics had a negative return on equity of 35.72% and a negative net margin of 87.89%. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Activity

In other news, CFO Stephen Feider sold 15,018 shares of Beta Bionics stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $20.76, for a total value of $311,773.68. Following the transaction, the chief financial officer directly owned 44,041 shares in the company, valued at approximately $914,291.16. The trade was a 25.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Adam Lezack sold 1,406 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $26.87, for a total value of $37,779.22. Following the completion of the sale, the director directly owned 9,841 shares in the company, valued at $264,427.67. This trade represents a 12.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 45,555 shares of company stock worth $951,562.

Hedge Funds Weigh In On Beta Bionics

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

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.