Beta Bionics (NASDAQ:BBNX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Beta Bionics (NASDAQ:BBNX) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Several other research firms have also recently issued reports on BBNX. Stifel Nicolaus cut their price target on shares of Beta Bionics from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Robert W. Baird decreased their price target on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. TD Cowen began coverage on Beta Bionics in a research note on Monday, January 26th. They issued a “hold” rating and a $17.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $25.00 target price on shares of Beta Bionics in a report on Thursday, January 15th. Finally, Truist Financial reduced their price target on shares of Beta Bionics from $37.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.20.

Beta Bionics Price Performance

BBNX stock opened at $11.05 on Friday. The company has a fifty day moving average price of $13.57 and a 200 day moving average price of $21.71. Beta Bionics has a 12 month low of $8.89 and a 12 month high of $32.71. The company has a market cap of $490.27 million, a price-to-earnings ratio of -5.67 and a beta of 5.59.

Beta Bionics (NASDAQ:BBNX) last announced its earnings results on Tuesday, February 17th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.12. The business had revenue of $32.12 million during the quarter. Beta Bionics had a negative net margin of 73.02% and a negative return on equity of 20.29%.

Insiders Place Their Bets

In other Beta Bionics news, insider Mike Mensinger sold 7,800 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $29.61, for a total transaction of $230,958.00. Following the completion of the sale, the insider directly owned 82,952 shares in the company, valued at $2,456,208.72. The trade was a 8.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen Feider sold 20,000 shares of the stock in a transaction on Friday, January 2nd. The shares were 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 owned 42,614 shares of the company’s stock, valued at approximately $1,258,391.42. This represents a 31.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 34,705 shares of company stock worth $945,653.

Hedge Funds Weigh In On Beta Bionics

Institutional investors and hedge funds have recently bought and sold shares of the stock. GPS Wealth Strategies Group LLC grew its stake in shares of Beta Bionics by 45.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after acquiring an additional 450 shares in the last quarter. Summit Securities Group LLC bought a new position in Beta Bionics in the fourth quarter worth about $52,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Beta Bionics by 1,075.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock worth $61,000 after purchasing an additional 1,818 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Beta Bionics by 203.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after buying an additional 1,594 shares during the last quarter. Finally, Strs Ohio bought a new stake in Beta Bionics in the 1st quarter valued at about $29,000.

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.