Analysts Set Beta Bionics, Inc. (NASDAQ:BBNX) Price Target at $22.56

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twelve analysts that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $22.5556.

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

Insider Activity at Beta Bionics

In related news, CFO Stephen Feider sold 5,587 shares of the company's stock in a transaction that occurred on 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 directly owned 45,503 shares in the company, valued at approximately $774,916.09. This represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Hopman sold 16,158 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $16.61, for a total transaction of $268,384.38. Following the completion of the transaction, the insider owned 34,132 shares in the company, valued at approximately $566,932.52. This trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,264 shares of company stock worth $444,376.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new stake in Beta Bionics in the first quarter worth $316,000. Rhumbline Advisers purchased a new stake in Beta Bionics in the first quarter worth $158,000. Values First Advisors Inc. purchased a new stake in Beta Bionics during the 1st quarter valued at $457,000. TD Asset Management Inc purchased a new position in Beta Bionics in the 1st quarter worth about $488,000. Finally, Evanson Asset Management LLC purchased a new position in Beta Bionics in the 1st quarter worth about $475,000.

Beta Bionics Price Performance

Beta Bionics stock traded up $1.20 during midday trading on Monday, hitting $16.50. The company's stock had a trading volume of 202,863 shares, compared to its average volume of 524,890. Beta Bionics has a 1-year low of $8.89 and a 1-year high of $24.50. The company has a 50-day moving average price of $15.23 and a two-hundred day moving average price of $15.45.

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

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.