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

Key Points

• Beta Bionics, Inc. has a consensus rating of "Moderate Buy" from analysts, with a price target averaging $24.44 among thirteen analysts.
• Insiders have recently sold shares, with CFO Stephen Feider selling 15,018 shares and Mark Hopman selling 11,411 shares, indicating a decrease in their ownership positions.
• Beta Bionics outperformed earnings expectations, reporting a loss of ($0.39) per share against an expected loss of ($0.51) with revenues of $23.24 million for the quarter.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the thirteen analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $24.4444.

A number of equities research analysts have weighed in on the stock. Lake Street Capital assumed coverage on shares of Beta Bionics in a report on Thursday, June 12th. They issued a "buy" rating and a $30.00 price objective on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Beta Bionics in a report on Saturday, September 27th. The Goldman Sachs Group set a $26.00 price objective on shares of Beta Bionics and gave the stock a "buy" rating in a report on Wednesday, October 1st. Truist Financial upped their price objective on shares of Beta Bionics from $21.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, Robert W. Baird set a $17.00 price objective on shares of Beta Bionics and gave the stock a "neutral" rating in a report on Wednesday, July 30th.

Insider Transactions at Beta Bionics

In other Beta Bionics news, insider Mark Hopman sold 11,411 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $20.56, for a total value of $234,610.16. Following the sale, the insider owned 31,215 shares in the company, valued at approximately $641,780.40. This represents a 26.77% decrease in their ownership of the stock. 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 15,018 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $20.76, for a total transaction of $311,773.68. Following the sale, the chief financial officer owned 44,041 shares in the company, valued at approximately $914,291.16. The trade was a 25.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,919 shares of company stock worth $1,206,483.

Institutional Investors Weigh In On Beta Bionics

A number of institutional investors have recently made changes to their positions in the company. Eventide Asset Management LLC purchased a new stake in shares of Beta Bionics during the first quarter valued at approximately $60,307,000. Wellington Management Group LLP purchased a new stake in shares of Beta Bionics during the first quarter valued at approximately $47,346,000. Soleus Capital Management L.P. grew its holdings in shares of Beta Bionics by 12.5% during the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company's stock valued at $55,622,000 after buying an additional 424,817 shares during the last quarter. Sands Capital Alternatives LLC grew its holdings in shares of Beta Bionics by 15.0% during the second quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company's stock valued at $51,981,000 after buying an additional 466,331 shares during the last quarter. Finally, Sands Capital Ventures LLC purchased a new stake in shares of Beta Bionics during the first quarter valued at approximately $37,990,000.

Beta Bionics Price Performance

BBNX stock opened at $21.95 on Tuesday. Beta Bionics has a 1 year low of $8.89 and a 1 year high of $26.66. The firm has a 50-day moving average of $19.37 and a 200 day moving average of $15.83.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

About Beta Bionics

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.

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