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

Key Points

• Beta Bionics has a “Moderate Buy” consensus rating from 12 analysts: seven buys, four holds and one sell. The average 12-month price target is $20.10.
• Recent analyst views were mixed: Truist Financial raised its target to $22 and UBS initiated coverage with a buy rating, while Bank of America cut its target to $11 and William Blair assigned a market-perform rating.
• BBNX shares opened at $19.54, near the analyst consensus target, while the company reported quarterly revenue of $32.01 million and an adjusted loss of $0.53 per share—better than the expected $0.62 loss.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $20.10.

A number of analysts have recently issued reports on BBNX shares. Bank of America dropped their price target on shares of Beta Bionics from $23.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, May 18th. Truist Financial increased their price objective on shares of Beta Bionics from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, July 13th. William Blair began coverage on shares of Beta Bionics in a report on Friday, August 21st. They issued a "market perform" rating on the stock. 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. Finally, UBS Group assumed coverage on shares of Beta Bionics in a research note on Tuesday, July 28th. They set a "buy" rating and a $22.00 target price for the company.

Insider Buying and Selling

In related news, insider Mark Hopman sold 5,329 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 $67,198.69. Following the completion of the sale, the insider owned 130,887 shares in the company, valued at approximately $1,650,485.07. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christy Jones sold 2,811 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $14.00, for a total value of $39,354.00. Following the completion of the transaction, the director directly owned 27,400 shares in the company, valued at approximately $383,600. This represents a 9.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,355 shares of company stock valued at $512,943 over the last ninety days. 5.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Beta Bionics

Several hedge funds and other institutional investors have recently made changes to their positions in BBNX. California State Teachers Retirement System boosted its holdings in shares of Beta Bionics by 306.1% in the second quarter. California State Teachers Retirement System now owns 8,556 shares of the company's stock worth $134,000 after buying an additional 6,449 shares during the last quarter. Bank of America Corp DE purchased a new stake in Beta Bionics during the second quarter valued at approximately $8,566,000. Man Group plc purchased a new stake in Beta Bionics during the second quarter valued at approximately $419,000. Legal & General Group Plc bought a new position in Beta Bionics in the second quarter worth approximately $62,000. Finally, The Manufacturers Life Insurance Company bought a new position in Beta Bionics in the second quarter worth approximately $172,000.

Beta Bionics Trading Up 1.0%

Shares of BBNX opened at $19.54 on Friday. The company has a market cap of $879.10 million, a price-to-earnings ratio of -11.84 and a beta of 3.13. The business's fifty day simple moving average is $16.59 and its two-hundred day simple moving average is $13.42. Beta Bionics has a 12 month low of $8.80 and a 12 month high of $32.71.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last posted its quarterly earnings results 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. 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. As a group, research analysts forecast that Beta Bionics will post -2.1 EPS for the current year.

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.

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