Beta Bionics, Inc. (NASDAQ:BBNX) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Beta Bionics “Moderate Buy,” with seven buy, three hold and one sell recommendation among 11 covering firms. The average 12-month price target is $20.10, above the stock’s recent $12.83 price.
• Recent analyst actions were mixed but generally favorable: UBS initiated coverage with a $22 buy target, while Leerink and Stifel lowered their targets; Truist raised its target to $22.
• Beta Bionics reported quarterly revenue of $32.01 million and an adjusted loss of $0.53 per share, beating the consensus loss estimate of $0.62. Insiders sold $553,961 worth of shares in the last quarter, primarily to cover tax obligations tied to equity awards.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.10.

Several research firms recently weighed in on BBNX. Weiss Ratings restated a "sell (e+)" rating on shares of Beta Bionics in a research report on Friday, July 17th. Leerink Partners dropped their target price on shares of Beta Bionics from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 22nd. UBS Group initiated coverage on shares of Beta Bionics in a research report on Tuesday, July 28th. They set a "buy" rating and a $22.00 target price for the company. Stifel Nicolaus decreased their price target on shares of Beta Bionics from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Finally, Truist Financial lifted their price target on shares of Beta Bionics from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, July 13th.

Insider Buying and Selling at Beta Bionics

In related news, insider Steven Jon Russell sold 4,222 shares of Beta Bionics stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $53,239.42. Following the completion of the sale, the insider owned 173,849 shares of the company's stock, valued at approximately $2,192,235.89. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mike Mensinger sold 4,378 shares of Beta Bionics stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $55,206.58. Following the completion of the sale, the insider directly owned 184,415 shares of the company's stock, valued at approximately $2,325,473.15. This trade represents a 2.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 40,351 shares of company stock valued at $553,961 in the last quarter. Insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On Beta Bionics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new stake in shares of Beta Bionics during the 4th quarter valued at approximately $52,000. Caitong International Asset Management Co. Ltd grew its stake in Beta Bionics by 1,075.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company's stock valued at $61,000 after buying an additional 1,818 shares in the last quarter. Strs Ohio purchased a new position in Beta Bionics in the 1st quarter valued at approximately $29,000. Legal & General Group Plc raised its holdings in Beta Bionics by 197.4% during the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company's stock valued at $58,000 after acquiring an additional 2,639 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Beta Bionics by 630,000.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,301 shares of the company's stock valued at $192,000 after acquiring an additional 6,300 shares during the period.

Beta Bionics Stock Performance

BBNX stock opened at $12.83 on Monday. The stock has a market cap of $577.22 million, a P/E ratio of -7.78 and a beta of 3.13. The stock's fifty day simple moving average is $14.99 and its two-hundred day simple moving average is $13.18. Beta Bionics has a 1-year low of $8.80 and a 1-year high of $32.71.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.09. The firm had revenue of $32.01 million during the quarter. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%. As a group, analysts forecast that Beta Bionics will post -2.14 earnings per share for the current fiscal year.

Beta Bionics Company Profile

Beta Bionics, a clinical-stage medical device company headquartered in Boston, Massachusetts, is focused on revolutionizing the management of type 1 diabetes through automated insulin delivery solutions. The company's flagship product, the iLet Bionic Pancreas system, is designed to simplify glycemic control by automatically adjusting insulin dosing in response to continuous glucose monitoring data. By integrating advanced algorithmic control with wearable infusion pumps, the iLet aims to reduce the daily burden of diabetes management and improve clinical outcomes for patients.

At the core of Beta Bionics' offering is its proprietary bionic pancreas software, which can operate in both insulin-only and dual‐hormone modes.

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