678,262 Shares in Beta Bionics, Inc. $BBNX Purchased by Eversept Partners LP

Key Points

• Eversept Partners LP disclosed a new fourth-quarter stake in Beta Bionics, buying 678,262 shares worth about $20.7 million. The position represents 1.0% of Eversept’s holdings and about 1.54% of Beta Bionics.
• Analysts remain mixed but generally constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $19.70. Recent target cuts came from firms including Bank of America and Goldman Sachs, though several still rate the shares Buy or Outperform.
• Beta Bionics reported quarterly EPS of ($0.49), beating expectations by $0.04, on revenue of $27.63 million. The stock opened at $13.19, and insiders have also been selling shares recently, including the CFO and a director.

Eversept Partners LP purchased a new stake in Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 678,262 shares of the company's stock, valued at approximately $20,667,000. Beta Bionics accounts for 1.0% of Eversept Partners LP's holdings, making the stock its 23rd biggest position. Eversept Partners LP owned approximately 1.54% of Beta Bionics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in Beta Bionics in the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its holdings in Beta Bionics by 203.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company's stock valued at $47,000 after buying an additional 1,594 shares during the period. Legal & General Group Plc grew its holdings in Beta Bionics by 197.4% in the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company's stock valued at $58,000 after buying an additional 2,639 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Beta Bionics by 139.1% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 3,202 shares of the company's stock valued at $64,000 after buying an additional 1,863 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Beta Bionics in the 1st quarter valued at about $95,000.

Analysts Set New Price Targets

Several analysts have commented on BBNX shares. Weiss Ratings cut Beta Bionics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, April 21st. Stifel Nicolaus lowered their price target 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 lowered their price target on Beta Bionics from $23.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, May 18th. Leerink Partners lowered their price target on Beta Bionics from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group lowered their price target on Beta Bionics from $19.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.70.

Beta Bionics Price Performance

NASDAQ BBNX opened at $13.19 on Thursday. The firm has a market capitalization of $587.75 million, a P/E ratio of -8.74 and a beta of 3.40. Beta Bionics, Inc. has a 1-year low of $8.80 and a 1-year high of $32.71. The business's 50-day simple moving average is $11.55 and its 200-day simple moving average is $16.23.

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

Insiders Place Their Bets

In other news, Director Christy Jones sold 2,811 shares of Beta Bionics stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $14.00, for a total value of $39,354.00. Following the transaction, the director directly owned 27,400 shares of the company's stock, valued at $383,600. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stephen Feider sold 6,676 shares of Beta Bionics stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $84,184.36. Following the completion of the transaction, the chief financial officer directly owned 166,053 shares in the company, valued at $2,093,928.33. This represents a 3.87% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 27,687 shares of company stock worth $343,586. 5.30% of the stock is owned by insiders.

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.

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