Lazard Asset Management LLC Takes $720,000 Position in Beta Bionics, Inc. $BBNX

Lazard Asset Management LLC bought a new position in shares of Beta Bionics, Inc. (NASDAQ:BBNX) during the first quarter, according to its most recent filing with the SEC. The fund bought 71,905 shares of the company’s stock, valued at approximately $720,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Beta Bionics in the fourth quarter worth about $40,437,000. UBS Group AG grew its position in shares of Beta Bionics by 96.6% during the 4th quarter. UBS Group AG now owns 251,438 shares of the company’s stock valued at $7,661,000 after acquiring an additional 123,533 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Beta Bionics by 4,236.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 485,854 shares of the company’s stock valued at $4,868,000 after acquiring an additional 474,651 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Beta Bionics during the 4th quarter worth approximately $1,566,000. Finally, Bruce & Co. Inc. purchased a new stake in shares of Beta Bionics during the 1st quarter worth approximately $5,518,000.

Insider Buying and Selling at Beta Bionics

In related news, insider Steven Jon Russell sold 4,222 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $53,239.42. Following the sale, the insider directly owned 173,849 shares in the company, valued at approximately $2,192,235.89. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mike Mensinger sold 4,378 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $55,206.58. Following the sale, the insider directly owned 184,415 shares in the company, valued at $2,325,473.15. This trade represents a 2.32% decrease in their position. 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. Over the last three months, insiders have sold 40,351 shares of company stock worth $553,961. Company insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

BBNX has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective 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 target price on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. UBS Group initiated coverage on Beta Bionics in a research note on Tuesday, July 28th. They issued a “buy” rating and a $22.00 target price on the stock. Stifel Nicolaus dropped their price target on Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Finally, Truist Financial increased their price target on Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Beta Bionics presently has an average rating of “Moderate Buy” and a consensus price target of $20.10.

Beta Bionics Stock Down 4.5%

NASDAQ BBNX opened at $13.91 on Thursday. The company’s 50 day moving average is $15.12 and its 200-day moving average is $13.11. Beta Bionics, Inc. has a 12-month low of $8.80 and a 12-month high of $32.71. The firm has a market cap of $625.81 million, a P/E ratio of -8.43 and a beta of 3.13.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.09. The company had revenue of $32.01 million for the quarter. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. Equities analysts expect that Beta Bionics, Inc. will post -2.1 EPS for the current year.

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.