Beta Bionics (NASDAQ:BBNX) Now Covered by William Blair

Key Points

• William Blair initiated coverage of Beta Bionics with a “market perform” rating. Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $20.10.
• 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. Analysts expect a full-year loss of approximately $2.10 per share.
• BBNX opened at $19.48, with a market capitalization of about $876 million and a 52-week range of $8.80 to $32.71. Institutional investors, including BlackRock and Vanguard, have recently increased or initiated positions, while insiders sold 36,355 shares over the past 90 days.

Research analysts at William Blair initiated coverage on shares of Beta Bionics (NASDAQ:BBNX - Get Free Report) in a research report issued on Friday. The firm set a "market perform" rating on the stock.

Other research analysts also recently issued reports about the stock. Bank of America decreased their price target on shares of Beta Bionics from $23.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, May 18th. UBS Group started coverage on Beta Bionics in a research note on Tuesday, July 28th. They issued a "buy" rating and a $22.00 price objective for the company. Truist Financial lifted their target price on Beta Bionics from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Weiss Ratings raised Beta Bionics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price objective on Beta Bionics from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.10.

Beta Bionics Stock Performance

Shares of NASDAQ:BBNX opened at $19.48 on Friday. Beta Bionics has a 52-week low of $8.80 and a 52-week high of $32.71. The stock has a market capitalization of $876.41 million, a price-to-earnings ratio of -11.81 and a beta of 3.13. The stock's 50-day simple moving average is $16.05 and its two-hundred day simple moving average is $13.22.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.09. The firm had revenue of $32.01 million for the quarter. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. As a group, equities analysts forecast that Beta Bionics will post -2.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Stephen Feider sold 4,896 shares of Beta Bionics stock in a transaction on Monday, June 29th. The shares were sold at an average price of $17.03, for a total transaction of $83,378.88. Following the transaction, the chief financial officer owned 165,931 shares in the company, valued at approximately $2,825,804.93. The trade was a 2.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Jon Russell sold 4,222 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $53,239.42. Following the completion of the transaction, the insider directly owned 173,849 shares of the company's stock, valued at $2,192,235.89. This represents a 2.37% 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. Over the last ninety days, insiders sold 36,355 shares of company stock worth $512,943. 5.30% of the stock is currently owned by insiders.

Institutional Trading of Beta Bionics

Several institutional investors have recently made changes to their positions in BBNX. BlackRock Inc. purchased a new position in Beta Bionics in the 2nd quarter worth approximately $52,340,000. Vanguard Group Inc. raised its position in shares of Beta Bionics by 213.5% during the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company's stock valued at $44,036,000 after buying an additional 1,509,217 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Beta Bionics during the fourth quarter valued at approximately $40,437,000. Eversept Partners LP raised its position in shares of Beta Bionics by 108.6% during the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company's stock valued at $14,177,000 after buying an additional 736,576 shares during the last quarter. Finally, 12 West Capital Management LP purchased a new position in shares of Beta Bionics in the fourth quarter worth $17,520,000.

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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