Meridiem Capital Partners LP Acquires New Stake in Beta Bionics, Inc. $BBNX

Meridiem Capital Partners LP purchased a new stake in shares of Beta Bionics, Inc. (NASDAQ:BBNX) in the third quarter, HoldingsChannel reports. The institutional investor purchased 73,386 shares of the company’s stock, valued at approximately $1,458,000.

A number of other hedge funds also recently made changes to their positions in BBNX. Essex Investment Management Co. LLC bought a new stake in Beta Bionics during the third quarter worth about $4,423,000. Pura Vida Investments LLC raised its holdings in shares of Beta Bionics by 11,150.0% during the 3rd quarter. Pura Vida Investments LLC now owns 281,250 shares of the company’s stock valued at $5,588,000 after buying an additional 278,750 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in Beta Bionics in the 2nd quarter worth approximately $13,817,000. First Eagle Investment Management LLC bought a new stake in Beta Bionics in the 3rd quarter worth approximately $4,634,000. Finally, Sands Capital Alternatives LLC boosted its stake in Beta Bionics by 15.0% in the second quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock worth $51,981,000 after buying an additional 466,331 shares in the last quarter.

Beta Bionics Price Performance

Beta Bionics stock traded up $0.35 during trading hours on Friday, reaching $10.46. The stock had a trading volume of 103,373 shares, compared to its average volume of 1,317,591. The company has a fifty day simple moving average of $15.90 and a 200-day simple moving average of $22.07. Beta Bionics, Inc. has a 52 week low of $8.89 and a 52 week high of $32.71. The stock has a market cap of $464.30 million, a PE ratio of -5.35 and a beta of 5.60.

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

Analyst Ratings Changes

A number of research analysts have commented on BBNX shares. Wall Street Zen cut shares of Beta Bionics from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. UBS Group raised shares of Beta Bionics to a “strong-buy” rating in a research note on Monday, February 9th. 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 report on Wednesday, February 18th. Bank of America cut shares of Beta Bionics from a “buy” rating to a “neutral” rating in a research report on Friday, January 9th. Finally, Truist Financial lowered their price target on shares of Beta Bionics from $37.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.20.

Insider Buying and Selling

In related news, CFO Stephen Feider sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.53, for a total transaction of $590,600.00. Following the completion of the transaction, the chief financial officer owned 42,614 shares in the company, valued at $1,258,391.42. This represents a 31.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mike Mensinger sold 2,200 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $30.10, for a total value of $66,220.00. Following the completion of the sale, the insider directly owned 80,752 shares of the company’s stock, valued at $2,430,635.20. The trade was a 2.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 34,705 shares of company stock worth $945,653.

Beta Bionics 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.