Eventide Asset Management LLC Has $152.23 Million Holdings in Beta Bionics, Inc. $BBNX

Eventide Asset Management LLC raised its position in shares of Beta Bionics, Inc. (NASDAQ:BBNX) by 0.8% in the fourth quarter, HoldingsChannel reports. The firm owned 4,994,728 shares of the company’s stock after buying an additional 37,476 shares during the quarter. Beta Bionics makes up 2.4% of Eventide Asset Management LLC’s investment portfolio, making the stock its 5th largest position. Eventide Asset Management LLC owned 0.11% of Beta Bionics worth $152,233,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Beta Bionics by 203.6% during the 3rd 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 in the last quarter. Strs Ohio purchased a new position in shares of Beta Bionics during the 1st quarter valued at about $29,000. Ameritas Investment Partners Inc. lifted its position in shares of Beta Bionics by 139.1% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 3,202 shares of the company’s stock valued at $64,000 after buying an additional 1,863 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Beta Bionics by 197.4% during 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 in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Beta Bionics by 630,000.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,301 shares of the company’s stock valued at $192,000 after buying an additional 6,300 shares in the last quarter.

Beta Bionics Trading Down 1.1%

NASDAQ BBNX opened at $14.53 on Friday. The stock’s 50 day moving average is $11.31 and its 200 day moving average is $16.70. Beta Bionics, Inc. has a 12 month low of $8.80 and a 12 month high of $32.71. The stock has a market cap of $647.46 million, a PE ratio of -9.62 and a beta of 3.40.

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

Insider Buying and Selling

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 value of $39,354.00. Following the transaction, the director directly owned 27,400 shares of the company’s stock, valued at approximately $383,600. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mike Mensinger sold 4,378 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 value of $55,206.58. Following the completion of the transaction, the insider directly owned 184,415 shares in the company, valued at approximately $2,325,473.15. This represents a 2.32% decrease in their ownership of the stock. 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 sold 27,687 shares of company stock worth $343,586 in the last quarter. 5.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BBNX shares. The Goldman Sachs Group lowered their price objective on Beta Bionics from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Robert W. Baird lowered their price objective on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Lake Street Capital set a $20.00 price objective on Beta Bionics in a research report on Wednesday, February 18th. Leerink Partners lowered their price objective on 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, Truist Financial lowered their price objective on Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.70.

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.