12 West Capital Management LP Acquires New Shares in Beta Bionics, Inc. $BBNX

12 West Capital Management LP acquired a new stake in shares of Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 575,000 shares of the company's stock, valued at approximately $17,520,000. Beta Bionics accounts for about 2.1% of 12 West Capital Management LP's investment portfolio, making the stock its 14th biggest holding. 12 West Capital Management LP owned approximately 1.31% of Beta Bionics at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Beta Bionics by 3,238.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 205,955 shares of the company's stock worth $4,092,000 after buying an additional 199,785 shares in the last quarter. Pura Vida Investments LLC raised its stake in shares of Beta Bionics by 11,150.0% in the 3rd quarter. Pura Vida Investments LLC now owns 281,250 shares of the company's stock worth $5,588,000 after buying an additional 278,750 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Beta Bionics in the 4th quarter worth $4,579,000. Farallon Capital Management LLC raised its stake in shares of Beta Bionics by 2.6% in the 3rd quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company's stock worth $85,718,000 after buying an additional 110,000 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in shares of Beta Bionics in the 3rd quarter worth $4,634,000.

Insider Activity at Beta Bionics

In other news, insider Mark Hopman sold 5,329 shares of the company's stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Jon Russell sold 4,222 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $53,239.42. Following 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. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 27,687 shares of company stock worth $343,586 in the last 90 days. Insiders own 5.30% of the company's stock.

Beta Bionics Stock Performance

BBNX opened at $13.19 on Thursday. The company has a market cap of $587.75 million, a PE ratio of -8.74 and a beta of 3.40. The stock has a 50-day moving average of $11.55 and a 200-day moving average of $16.23. Beta Bionics, Inc. has a 52-week low of $8.80 and a 52-week high of $32.71.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.04. The company had revenue of $27.63 million during the quarter. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%. On average, research analysts predict that Beta Bionics, Inc. will post -2.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BBNX shares. Wall Street Zen lowered Beta Bionics from a "hold" rating to a "sell" rating in a research report on Sunday, March 29th. Stifel Nicolaus cut their target price on Beta Bionics from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Bank of America cut their target price on Beta Bionics from $23.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, May 18th. The Goldman Sachs Group cut their target price on Beta Bionics from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Finally, Truist Financial cut their target price on Beta Bionics from $25.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.70.

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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