Beta Bionics, Inc. $BBNX Shares Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC increased its holdings in shares of Beta Bionics, Inc. (NASDAQ:BBNX) by 104.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,449 shares of the company’s stock after purchasing an additional 127,203 shares during the period. Granahan Investment Management LLC owned approximately 0.56% of Beta Bionics worth $2,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in Beta Bionics in the first quarter valued at $29,000. Summit Securities Group LLC acquired a new position in shares of Beta Bionics in the 4th quarter valued at about $52,000. Legal & General Group Plc lifted its holdings in shares of Beta Bionics by 197.4% in the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after buying an additional 2,639 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Beta Bionics by 1,075.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock worth $61,000 after buying an additional 1,818 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Beta Bionics in the first quarter worth about $95,000.

Insider Transactions at Beta Bionics

In related 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 completion of the sale, the director directly owned 27,400 shares in the company, valued at approximately $383,600. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mike Mensinger sold 4,378 shares of Beta Bionics stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $55,206.58. Following the sale, the insider directly owned 184,415 shares in the company, valued at approximately $2,325,473.15. This trade represents a 2.32% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 40,351 shares of company stock valued at $553,961. Insiders own 5.30% of the company’s stock.

Beta Bionics Price Performance

Shares of Beta Bionics stock opened at $15.85 on Friday. The business has a 50 day simple moving average of $14.53 and a two-hundred day simple moving average of $13.71. Beta Bionics, Inc. has a 12 month low of $8.80 and a 12 month high of $32.71. The stock has a market capitalization of $706.28 million, a P/E ratio of -10.50 and a beta of 3.04.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Truist Financial boosted their target price on shares of Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Bank of America lowered their price target on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Leerink Partners dropped their price target on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Beta Bionics in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.30.

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.