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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Beta Bionics, with seven buy, four hold, and one sell rating among 12 firms. The average 12-month price target is $21.90.
• BBNX opened at $22.04, up 0.7%, with its shares trading well above the 50-day and 200-day moving averages. The company reported quarterly EPS of -$0.53, beating estimates of -$0.62, on $32.01 million in revenue.
• Insiders sold 103,561 shares worth approximately $1.96 million over the past 90 days, while institutional investors—including BlackRock—have established or expanded significant positions in the company.

Shares of Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twelve research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $21.90.

Several equities research analysts recently commented on the company. Wall Street Zen raised Beta Bionics from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings raised shares of Beta Bionics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 18th. Leerink Partners boosted their target price on shares of Beta Bionics from $24.00 to $27.00 and gave the stock an "outperform" rating in a research report on Monday, September 14th. The Goldman Sachs Group boosted their target price 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. Finally, Robert W. Baird increased their price target on shares of Beta Bionics from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 15th.

Beta Bionics Stock Up 0.7%

Beta Bionics stock opened at $22.04 on Tuesday. Beta Bionics has a 12 month low of $8.80 and a 12 month high of $32.71. The stock has a market cap of $991.58 million, a P/E ratio of -13.36 and a beta of 3.37. The company's fifty day simple moving average is $17.76 and its 200-day simple moving average is $14.13.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share (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 research analysts expect that Beta Bionics will post -2.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mark Hopman sold 30,779 shares of the business's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $20.13, for a total value of $619,581.27. Following the completion of the sale, the insider directly owned 56,479 shares in the company, valued at approximately $1,136,922.27. The trade was a 35.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Russell sold 4,221 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total transaction of $80,663.31. Following the sale, the insider directly owned 169,628 shares of the company's stock, valued at approximately $3,241,591.08. This represents a 2.43% decrease in their ownership of the stock. 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 103,561 shares of company stock worth $1,962,504 over the last ninety days. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BBNX. Eventide Asset Management LLC grew its position in shares of Beta Bionics by 0.8% in the fourth quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company's stock valued at $152,233,000 after purchasing an additional 37,476 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Beta Bionics during the 2nd quarter worth about $52,340,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Beta Bionics during the 4th quarter valued at approximately $40,437,000. Eversept Partners LP bought a new stake in Beta Bionics during the 4th quarter valued at approximately $20,667,000. Finally, 12 West Capital Management LP acquired a new stake in Beta Bionics in the 4th quarter valued at approximately $17,520,000.

About Beta Bionics

Beta Bionics, Inc is a medical technology company focused on developing automated insulin-delivery systems for people with diabetes. Its principal product is the iLet Bionic Pancreas, an automated insulin-delivery system designed to simplify diabetes management by using continuous glucose monitoring data to adjust insulin dosing with limited user input.

The iLet Bionic Pancreas received clearance from the U.S. Food and Drug Administration in 2023 for use by people with type 1 diabetes.

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