Beta Bionics (NASDAQ:BBNX) Trading Up 4.7% – Here’s Why

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) traded up 4.7% on Tuesday . The stock traded as high as $18.27 and last traded at $18.3850. 115,217 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,151,311 shares. The stock had previously closed at $17.56.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BBNX. Weiss Ratings reissued a “sell (e+)” rating on shares of Beta Bionics in a report on Friday, July 17th. Truist Financial upped their price target on Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Bank of America dropped their price objective on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Stifel Nicolaus cut their price objective on Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Finally, Leerink Partners reduced their target price on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.10.

Beta Bionics Stock Up 4.0%

The company has a market cap of $821.65 million, a price-to-earnings ratio of -11.07 and a beta of 3.13. The company’s fifty day moving average price is $15.73 and its two-hundred day moving average price is $13.11.

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

Insider Buying and Selling

In other news, Director Christy Jones sold 2,811 shares of the firm’s stock in a transaction 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 completion of the sale, the director directly owned 27,400 shares in the company, valued at approximately $383,600. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hopman sold 5,329 shares of Beta Bionics stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $67,198.69. Following the completion of the transaction, the insider directly owned 130,887 shares of the company’s stock, valued at $1,650,485.07. This represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 40,351 shares of company stock valued at $553,961. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Beta Bionics

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in Beta Bionics by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock valued at $10,105,000 after acquiring an additional 931 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Beta Bionics by 3.4% in the fourth quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock worth $1,197,000 after acquiring an additional 1,296 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Beta Bionics during the fourth quarter worth approximately $52,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Beta Bionics by 1,075.7% during the fourth 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 in the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of Beta Bionics by 4.0% during the third quarter. Verition Fund Management LLC now owns 47,299 shares of the company’s stock valued at $940,000 after purchasing an additional 1,823 shares during the last quarter.

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.