Beta Bionics (NASDAQ:BBNX) Sets New 12-Month High - Time to Buy?

Key Points

• Beta Bionics shares reached a new 52-week high at $24.52, with a recent trading price of $24.49, reflecting significant investor interest.
• Analyst Ratings are generally positive, with one Strong Buy and multiple Buy ratings, while the consensus price target is $22.56.
• Insiders have sold nearly 49,000 shares in recent months, raising potential concerns about their confidence in the company's future performance.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $24.52 and last traded at $24.49, with a volume of 378117 shares traded. The stock had previously closed at $23.13.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Robert W. Baird set a $17.00 price target on shares of Beta Bionics and gave the stock a "neutral" 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 issued a "neutral" rating and a $16.00 price target for the company. Truist Financial upped their price target 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. Lake Street Capital assumed coverage on shares of Beta Bionics in a research report on Thursday, June 12th. They issued a "buy" rating and a $30.00 price target for the company. Finally, Wolfe Research assumed coverage on shares of Beta Bionics in a research report on Friday, May 30th. They issued an "outperform" rating and a $20.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Beta Bionics presently has an average rating of "Moderate Buy" and a consensus target price of $22.56.

Beta Bionics Price Performance

The firm's fifty day moving average price is $16.70 and its 200 day moving average price is $15.29.

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

Insider Buying and Selling at Beta Bionics

In related news, insider Mark Hopman sold 16,158 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $16.61, for a total transaction of $268,384.38. Following the sale, the insider owned 34,132 shares of the company's stock, valued at $566,932.52. This represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen Feider sold 5,587 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $17.03, for a total transaction of $95,146.61. Following the sale, the chief financial officer directly owned 45,503 shares in the company, valued at approximately $774,916.09. The trade was a 10.94% 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 three months.

Institutional Investors Weigh In On Beta Bionics

A number of hedge funds have recently bought and sold shares of BBNX. Eventide Asset Management LLC purchased a new stake in Beta Bionics during the first quarter valued at $60,307,000. Wellington Management Group LLP purchased a new stake in Beta Bionics during the first quarter valued at $47,346,000. Sands Capital Ventures LLC purchased a new stake in Beta Bionics during the first quarter valued at $37,990,000. Omega Fund Management LLC purchased a new stake in Beta Bionics during the first quarter valued at $24,337,000. Finally, Divisadero Street Capital Management LP purchased a new stake in Beta Bionics during the second quarter valued at $13,817,000.

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.