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 an average recommendation of "Moderate Buy" by the twelve ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $22.5556.

Several analysts have recently commented on the stock. Robert W. Baird set a $17.00 price objective on shares of Beta Bionics and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Lake Street Capital assumed 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 for the company. Truist Financial raised their price objective on shares of Beta Bionics from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group assumed 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 for the company. Finally, Wolfe Research assumed 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 for the company.

Insider Activity at Beta Bionics

In other news, insider Mark Hopman sold 11,411 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $20.56, for a total transaction of $234,610.16. Following the completion of the sale, the insider owned 31,215 shares of the company's stock, valued at $641,780.40. This trade represents a 26.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephen Feider sold 1,462 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 44,041 shares of the company's stock, valued at approximately $830,613.26. This trade represents a 3.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,901 shares of company stock valued at $894,710.

Institutional Trading of Beta Bionics

Hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. acquired a new stake in Beta Bionics in the 1st quarter valued at $918,000. Corebridge Financial Inc. acquired a new stake in Beta Bionics in the 1st quarter valued at $79,000. Invesco Ltd. acquired a new stake in Beta Bionics in the 1st quarter valued at $202,000. Bank of New York Mellon Corp acquired a new stake in Beta Bionics in the 1st quarter valued at $316,000. Finally, Nuveen LLC acquired a new stake in Beta Bionics in the 1st quarter valued at $209,000.

Beta Bionics Stock Down 0.8%

Beta Bionics stock traded down $0.18 during mid-day trading on Friday, hitting $23.11. 835,545 shares of the stock were exchanged, compared to its average volume of 684,582. Beta Bionics has a 12 month low of $8.89 and a 12 month high of $26.66. The firm's fifty day simple moving average is $17.33 and its two-hundred day simple moving average is $15.36.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.12. The firm 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.

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.