Healthcare of Ontario Pension Plan Trust Fund Lowers Stake in Beta Bionics, Inc. $BBNX

Healthcare of Ontario Pension Plan Trust Fund lessened its position in Beta Bionics, Inc. (NASDAQ:BBNX) by 58.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 546,132 shares of the company’s stock after selling 780,968 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 1.23% of Beta Bionics worth $5,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BBNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Beta Bionics during the first quarter worth approximately $95,000. Goldman Sachs Group Inc. acquired a new position in Beta Bionics in the 1st quarter valued at $715,000. Woodline Partners LP purchased a new position in shares of Beta Bionics during the 1st quarter worth $1,530,000. Strs Ohio purchased a new position in shares of Beta Bionics during the 1st quarter worth $29,000. Finally, Rhumbline Advisers acquired a new stake in shares of Beta Bionics during the first quarter worth $158,000.

Insider Transactions at Beta Bionics

In other Beta Bionics news, CFO Stephen Feider sold 4,896 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $17.03, for a total value of $83,378.88. Following the transaction, the chief financial officer directly owned 165,931 shares of the company’s stock, valued at $2,825,804.93. This trade represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christy Jones sold 2,811 shares of the business’s stock in a transaction dated 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 owned 27,400 shares in the company, valued at approximately $383,600. This represents a 9.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,351 shares of company stock worth $553,961 in the last quarter. 5.30% of the stock is owned by corporate insiders.

Beta Bionics Stock Down 4.0%

Shares of BBNX stock opened at $15.17 on Thursday. Beta Bionics, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.71. The firm’s 50 day moving average price is $14.89 and its two-hundred day moving average price is $13.26. The stock has a market cap of $675.98 million, a price-to-earnings ratio of -10.05 and a beta of 3.04.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. The company had revenue of $32.01 million during the quarter. On average, equities analysts forecast that Beta Bionics, Inc. will post -2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BBNX has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Leerink Partners decreased their price target on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Bank of America lowered their price target on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Truist Financial upped their price objective 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. Finally, UBS Group assumed coverage on shares of Beta Bionics in a report on Tuesday. They set a “buy” rating and a $22.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.10.

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.