Beta Bionics, Inc. (NASDAQ:BBNX) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $22.5556.

A number of brokerages have weighed in on BBNX. Robert W. Baird set a $17.00 target price on Beta Bionics and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Lake Street Capital assumed coverage on Beta Bionics in a research note on Thursday, June 12th. They issued a "buy" rating and a $30.00 target price on the stock. The Goldman Sachs Group assumed coverage on Beta Bionics in a research report on Friday, May 30th. They set a "neutral" rating and a $16.00 price objective on the stock. Wolfe Research assumed coverage on Beta Bionics in a research report on Friday, May 30th. They set an "outperform" rating and a $20.00 price objective on the stock. Finally, Truist Financial increased their price objective on Beta Bionics from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th.

Beta Bionics Price Performance

NASDAQ BBNX traded up $0.86 during trading on Monday, reaching $17.75. The company's stock had a trading volume of 275,345 shares, compared to its average volume of 526,220. The firm has a fifty day moving average of $15.18 and a 200 day moving average of $15.41. Beta Bionics has a one year low of $8.89 and a one year high of $24.50.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.12. The business had revenue of $23.24 million during the quarter, compared to the consensus estimate of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Activity

In other news, insider Mark Hopman sold 16,158 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $16.61, for a total transaction of $268,384.38. Following the transaction, the insider directly owned 34,132 shares in the company, valued at approximately $566,932.52. This represents a 32.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen Feider sold 5,587 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $17.03, for a total value of $95,146.61. Following the transaction, the chief financial officer owned 45,503 shares in the company, valued at $774,916.09. This trade represents a 10.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,264 shares of company stock worth $444,376 over the last quarter.

Hedge Funds Weigh In On Beta Bionics

Several institutional investors have recently modified their holdings of BBNX. Eventide Asset Management LLC bought a new position in shares of Beta Bionics during the 1st quarter valued at about $60,307,000. Wellington Management Group LLP purchased a new stake in Beta Bionics during the 1st quarter valued at about $47,346,000. Sands Capital Ventures LLC purchased a new stake in Beta Bionics during the 1st quarter valued at about $37,990,000. Omega Fund Management LLC purchased a new stake in Beta Bionics during the 1st quarter valued at about $24,337,000. Finally, Divisadero Street Capital Management LP purchased a new stake in Beta Bionics during the 2nd quarter valued at about $13,817,000.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.