Beta Bionics (NASDAQ:BBNX) Shares Up 13.7% - Should You Buy?

Key Points

• Beta Bionics shares surged 13.7% to approximately $16.05, with the stock trading above both its 50-day and 200-day moving averages. Its high beta of 3.13 indicates significant volatility.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $20.10, although targets range widely from $11 to $22 and one firm rates the stock a sell.
• The company beat quarterly EPS expectations, reporting a loss of $0.53 versus the expected $0.62 loss, but remains unprofitable with negative margins and projected full-year EPS of approximately -$2.10. Insiders have sold shares recently, while several major institutions increased their holdings.

Shares of Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) traded up 13.7% during mid-day trading on Friday . The stock traded as high as $15.84 and last traded at $16.0450. 649,324 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 1,156,924 shares. The stock had previously closed at $14.11.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BBNX shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Beta Bionics in a research report on Friday, July 17th. Stifel Nicolaus lowered their target price on Beta Bionics from $22.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, April 22nd. Bank of America dropped their price target on Beta Bionics from $23.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, May 18th. UBS Group started coverage on Beta Bionics in a report on Tuesday, July 28th. They set a "buy" rating and a $22.00 price target on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of Beta Bionics from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.10.

Beta Bionics Stock Performance

The business has a 50 day moving average of $15.16 and a two-hundred day moving average of $13.08. The firm has a market capitalization of $723.17 million, a price-to-earnings ratio of -9.74 and a beta of 3.13.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($0.62) by $0.09. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%.The firm had revenue of $32.01 million during the quarter. On average, equities analysts predict that Beta Bionics, Inc. will post -2.1 EPS for the current fiscal year.

Insider Activity

In other Beta Bionics 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 transaction of $53,239.42. Following the completion of the transaction, the insider owned 173,849 shares in the company, valued at approximately $2,192,235.89. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 the stock in a transaction that occurred on 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 ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 40,351 shares of company stock valued at $553,961. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Beta Bionics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Eventide Asset Management LLC grew its stake in shares of Beta Bionics by 0.8% in the 4th quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company's stock worth $152,233,000 after acquiring an additional 37,476 shares in the last quarter. Soleus Capital Management L.P. grew its position in Beta Bionics by 12.5% in the 2nd quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company's stock worth $55,622,000 after purchasing an additional 424,817 shares in the last quarter. BlackRock Inc. purchased a new stake in Beta Bionics in the 2nd quarter valued at about $52,340,000. Vanguard Group Inc. increased its stake in Beta Bionics by 213.5% in the 3rd 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. Finally, Eversept Partners LP lifted its position in shares of Beta Bionics by 108.6% during the 1st quarter. Eversept Partners LP now owns 1,414,838 shares of the company's stock worth $14,177,000 after buying an additional 736,576 shares in the last quarter.

About Beta Bionics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source