BlackRock Inc. Takes $52.34 Million Position in Beta Bionics, Inc. $BBNX

BlackRock Inc. bought a new position in Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,340,171 shares of the company's stock, valued at approximately $52,340,000. BlackRock Inc. owned 7.42% of Beta Bionics as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strs Ohio bought a new position in shares of Beta Bionics in the first quarter worth about $29,000. Summit Securities Group LLC purchased a new position in Beta Bionics during the fourth quarter valued at $52,000. Legal & General Group Plc increased 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 acquiring an additional 2,639 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Beta Bionics by 1,075.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company's stock valued at $61,000 after acquiring an additional 1,818 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Beta Bionics in the 1st quarter worth $95,000.

Analyst Ratings Changes

A number of research firms have issued reports on BBNX. UBS Group started coverage on Beta Bionics in a research note on Tuesday, July 28th. They issued a "buy" rating and a $22.00 price objective on the stock. Bank of America reduced their price target on shares of Beta Bionics from $23.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, May 18th. William Blair assumed coverage on shares of Beta Bionics in a research note on Friday, August 21st. They set 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 note on Tuesday, August 18th. Finally, Truist Financial upped their target price 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. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.10.

Insiders Place Their Bets

In related news, CFO Stephen Feider sold 5,104 shares of the business's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $17.05, for a total transaction of $87,023.20. Following the completion of the transaction, the chief financial officer owned 165,931 shares in the company, valued at $2,829,123.55. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christy Jones sold 2,811 shares of the company's stock in a transaction on 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 $383,600. This trade 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. In the last 90 days, insiders have sold 15,750 shares of company stock valued at $253,114. 5.30% of the stock is owned by company insiders.

Beta Bionics Trading Up 1.2%

Beta Bionics stock opened at $19.95 on Tuesday. Beta Bionics, Inc. has a 12-month low of $8.80 and a 12-month high of $32.71. The firm has a 50-day moving average price of $16.83 and a 200-day moving average price of $13.49. The firm has a market capitalization of $897.55 million, a PE ratio of -12.09 and a beta of 3.13.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. The company had revenue of $32.01 million for the quarter. As a group, sell-side analysts predict that Beta Bionics, Inc. will post -2.1 earnings per share for the current fiscal year.

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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