Beta Bionics (NASDAQ:BBNX) Trading Up 4.7% – Time to Buy?

Beta Bionics, Inc. (NASDAQ:BBNX)’s stock price rose 4.7% during mid-day trading on Tuesday . The company traded as high as $18.27 and last traded at $18.3850. 115,217 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,151,311 shares. The stock had previously closed at $17.56.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group increased their target price on Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Bank of America reduced their price target on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. UBS Group started coverage on shares of Beta Bionics in a research note on Tuesday, July 28th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Leerink Partners lowered their price objective on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.10.

Beta Bionics Price Performance

The stock’s 50-day moving average price is $15.95 and its 200 day moving average price is $13.18. The firm has a market capitalization of $900.25 million, a PE ratio of -12.13 and a beta of 3.13.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%.The business had revenue of $32.01 million during the quarter. Equities research analysts forecast that Beta Bionics, Inc. will post -2.1 earnings per share for the current fiscal year.

Insider Transactions at Beta Bionics

In related news, insider Mike Mensinger sold 4,378 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $55,206.58. Following the completion of the sale, the insider directly owned 184,415 shares of the company’s stock, valued at $2,325,473.15. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $14.00, for a total transaction of $39,354.00. Following the completion of the sale, the director directly owned 27,400 shares of the company’s stock, valued at approximately $383,600. This trade represents a 9.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,353 shares of company stock valued at $524,131 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Beta Bionics

Hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new position in Beta Bionics during the first quarter valued at approximately $29,000. Summit Securities Group LLC purchased a new stake in Beta Bionics during the fourth quarter worth $52,000. Legal & General Group Plc lifted its holdings in Beta Bionics by 197.4% during the second quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock worth $58,000 after buying an additional 2,639 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Beta Bionics by 1,075.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock valued at $61,000 after acquiring an additional 1,818 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Beta Bionics during the 1st quarter valued at $95,000.

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.