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

Key Points

• Beta Bionics, Inc. (NASDAQ:BBNX) has received an average rating of “Moderate Buy” from twelve analysts, with an average twelve-month target price of $22.56.
• The company's recent quarterly earnings exceeded analysts' expectations, reporting a loss of ($0.39) per share on revenue of $23.24 million.
• Insider selling includes CFO Stephen Feider and insider Mark Hopman, who sold 5,587 and 16,158 shares, representing significant decreases in their ownership positions.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $22.5556.

BBNX has been the topic of several recent analyst reports. 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 price objective on the stock. Truist Financial lifted their price objective on shares of Beta Bionics from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Beta Bionics in a research report on Friday, May 30th. They set a "neutral" rating and a $16.00 price objective on the stock. Robert W. Baird set a $17.00 price objective on shares of Beta Bionics and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wolfe Research initiated coverage on shares of Beta Bionics in a research report on Friday, May 30th. They set an "outperform" rating and a $20.00 price objective on the stock.

Beta Bionics Price Performance

NASDAQ BBNX traded down $1.09 on Friday, reaching $24.22. 346,118 shares of the stock were exchanged, compared to its average volume of 544,449. Beta Bionics has a one year low of $8.89 and a one year high of $26.66. The company's 50-day simple moving average is $16.93 and its two-hundred day simple moving average is $15.25.

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

Insider Buying and Selling at Beta Bionics

In related news, insider Mark Hopman sold 11,411 shares of the business's stock in a transaction on 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. The trade was a 26.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephen Feider sold 1,462 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $18.86, for a total transaction of $27,573.32. Following the completion of the sale, the chief financial officer owned 44,041 shares in the company, valued at $830,613.26. This represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,901 shares of company stock worth $894,710 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BBNX. Strs Ohio purchased a new position in Beta Bionics during the first quarter worth $29,000. CWM LLC purchased a new position in Beta Bionics during the second quarter worth $58,000. Legal & General Group Plc boosted its stake in Beta Bionics by 197.4% during the second quarter. Legal & General Group Plc now owns 3,976 shares of the company's stock worth $58,000 after buying an additional 2,639 shares during the period. Corebridge Financial Inc. purchased a new position in Beta Bionics during the first quarter worth $79,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Beta Bionics during the first quarter worth $95,000.

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.