Beta Bionics, Inc. $BBNX Stock Position Reduced by Omega Fund Management LLC

Omega Fund Management LLC cut its position in shares of Beta Bionics, Inc. (NASDAQ:BBNX) by 31.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,316,183 shares of the company’s stock after selling 603,942 shares during the period. Beta Bionics makes up 14.0% of Omega Fund Management LLC’s holdings, making the stock its 3rd biggest holding. Omega Fund Management LLC’s holdings in Beta Bionics were worth $40,104,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Eventide Asset Management LLC raised its stake in Beta Bionics by 0.8% during 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 period. Farallon Capital Management LLC raised its stake in Beta Bionics by 2.6% during the third quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock worth $85,718,000 after purchasing an additional 110,000 shares during the period. Soleus Capital Management L.P. raised its stake 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. Vanguard Group Inc. raised its stake in Beta Bionics by 213.5% during the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after purchasing an additional 1,509,217 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Beta Bionics during the fourth quarter worth about $40,437,000.

Beta Bionics Stock Performance

Shares of BBNX stock opened at $13.95 on Wednesday. The stock has a market capitalization of $621.61 million, a P/E ratio of -9.24 and a beta of 3.40. The company has a 50 day moving average price of $11.48 and a 200 day moving average price of $16.35. Beta Bionics, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.71.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings data on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.04. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. The firm had revenue of $27.63 million during the quarter. On average, research analysts forecast that Beta Bionics, Inc. will post -2.22 EPS for the current fiscal year.

Insider Activity at Beta Bionics

In other Beta Bionics news, insider Steven Jon Russell sold 4,222 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $53,239.42. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Hopman sold 5,329 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $67,198.69. Following the transaction, the insider owned 130,887 shares of the company’s stock, valued at $1,650,485.07. This trade represents a 3.91% 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. Insiders have sold a total of 27,687 shares of company stock worth $343,586 over the last ninety days. 5.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Leerink Partners reduced their target price on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings downgraded shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. Robert W. Baird reduced their target price on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Stifel Nicolaus reduced their price target on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Finally, Wall Street Zen downgraded shares of Beta Bionics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Beta Bionics currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.70.

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.