Analysts Set Beta Bionics, Inc. (NASDAQ:BBNX) Price Target at $23.20

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $23.20.

A number of research analysts recently weighed in on BBNX shares. Stifel Nicolaus dropped their price target on shares of Beta Bionics from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Truist Financial reduced their price objective on shares of Beta Bionics from $37.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Lake Street Capital set a $20.00 target price on shares of Beta Bionics in a research report on Wednesday, February 18th. TD Cowen started coverage on Beta Bionics in a research note on Monday, January 26th. They issued a “hold” rating and a $17.00 target price on the stock. Finally, Bank of America lowered Beta Bionics from a “buy” rating to a “neutral” rating in a report on Friday, January 9th.

Beta Bionics Trading Up 0.9%

Shares of Beta Bionics stock opened at $10.97 on Friday. The stock has a fifty day simple moving average of $16.70 and a 200 day simple moving average of $22.23. Beta Bionics has a 12-month low of $8.89 and a 12-month high of $32.71. The company has a market capitalization of $486.85 million, a P/E ratio of -5.63 and a beta of 5.60.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.12. The business had revenue of $32.12 million during the quarter. Beta Bionics had a negative return on equity of 20.29% and a negative net margin of 73.02%.

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, insider Mike Mensinger sold 7,800 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $29.61, for a total value of $230,958.00. Following the completion of the transaction, the insider owned 82,952 shares in the company, valued at $2,456,208.72. This represents a 8.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen Feider sold 20,000 shares of Beta Bionics stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $29.53, for a total value of $590,600.00. Following the completion of the sale, the chief financial officer directly owned 42,614 shares of the company’s stock, valued at approximately $1,258,391.42. This trade represents a 31.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 34,705 shares of company stock worth $945,653.

Hedge Funds Weigh In On Beta Bionics

Large investors have recently modified their holdings of the business. GPS Wealth Strategies Group LLC lifted its stake in shares of Beta Bionics by 45.0% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after buying an additional 450 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Beta Bionics by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock valued at $10,105,000 after acquiring an additional 931 shares during the period. Deutsche Bank AG lifted its position in shares of Beta Bionics by 3.4% during the fourth quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock worth $1,197,000 after acquiring an additional 1,296 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 1,594 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Beta Bionics in the fourth quarter worth $52,000.

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.