Nuveen LLC Acquires New Stake in Beta Bionics, Inc. $BBNX

Key Points

• Nuveen LLC acquired 17,044 shares of Beta Bionics, Inc. valued at approximately $209,000 in the first quarter.
• Beta Bionics reported a quarterly EPS of ($0.39), exceeding analysts' estimates of ($0.51), with revenue of $23.24 million.
• Several research firms have recently rated Beta Bionics, with target prices ranging from $16.00 to $30.00 and a consensus target price of $22.56.

Nuveen LLC acquired a new stake in shares of Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,044 shares of the company's stock, valued at approximately $209,000.

Other large investors have also made changes to their positions in the company. Deutsche Bank AG purchased a new position in shares of Beta Bionics during the first quarter worth $148,000. Rhumbline Advisers acquired a new stake in Beta Bionics during the 1st quarter worth about $158,000. Invesco Ltd. acquired a new stake in Beta Bionics during the 1st quarter worth about $202,000. Bank of New York Mellon Corp purchased a new position in shares of Beta Bionics during the 1st quarter valued at about $316,000. Finally, Values First Advisors Inc. acquired a new position in shares of Beta Bionics in the 1st quarter valued at about $457,000.

Insider Buying and Selling at Beta Bionics

In other news, CFO Stephen Feider sold 5,587 shares of Beta Bionics stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $17.03, for a total value of $95,146.61. Following the sale, the chief financial officer owned 45,503 shares in the company, valued at $774,916.09. This trade represents a 10.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Hopman sold 16,158 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $16.61, for a total transaction of $268,384.38. Following the sale, the insider directly owned 34,132 shares of the company's stock, valued at $566,932.52. This represents a 32.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,901 shares of company stock worth $894,710.

Analysts Set New Price Targets

BBNX has been the topic of several analyst reports. Lake Street Capital assumed coverage on Beta Bionics in a report on Thursday, June 12th. They set a "buy" rating and a $30.00 target price on the stock. Truist Financial upped their price objective on Beta Bionics from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group started coverage on shares of Beta Bionics in a report on Friday, May 30th. They set a "neutral" rating and a $16.00 target price for the company. Robert W. Baird set a $17.00 target price on shares of Beta Bionics and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Wolfe Research started coverage on shares of Beta Bionics in a research report on Friday, May 30th. They set an "outperform" rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.56.

Beta Bionics Stock Up 1.9%

BBNX traded up $0.47 during trading on Thursday, hitting $25.34. The company's stock had a trading volume of 891,406 shares, compared to its average volume of 626,928. Beta Bionics, Inc. has a twelve month low of $8.89 and a twelve month high of $25.63. The business's fifty day simple moving average is $16.44 and its 200 day simple moving average is $15.24.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.51) by $0.12. The business had revenue of $23.24 million for the quarter, compared to analysts' expectations of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.