Braidwell LP Takes $1.71 Million Position in Beta Bionics, Inc. $BBNX

Key Points

• Braidwell LP has made a new investment in Beta Bionics,Inc. by acquiring 140,000 shares valued at approximately $1.7 million, representing 0.32% of the company.
• Analyst ratings for Beta Bionics vary, with a consensus of Moderate Buy and a target price of $22.56, alongside notable upgrades from firms like Truist Financial.
• Insider trading activity includes CFO Stephen Feider and another insider selling a total of 21,745 shares, indicating a decrease in their positions.

Braidwell LP purchased a new stake in shares of Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 140,000 shares of the company's stock, valued at approximately $1,714,000. Braidwell LP owned about 0.32% of Beta Bionics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBNX. Corebridge Financial Inc. bought a new position in Beta Bionics during the first quarter valued at approximately $79,000. MetLife Investment Management LLC bought a new position in Beta Bionics during the first quarter valued at approximately $102,000. Deutsche Bank AG bought a new position in Beta Bionics during the first quarter valued at approximately $148,000. Rhumbline Advisers bought a new position in Beta Bionics during the first quarter valued at approximately $158,000. Finally, Invesco Ltd. bought a new position in Beta Bionics during the first quarter valued at approximately $202,000.

Insider Activity at Beta Bionics

In related news, CFO Stephen Feider sold 5,587 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $17.03, for a total value of $95,146.61. Following the completion of the transaction, the chief financial officer owned 45,503 shares of the company's stock, valued at $774,916.09. The trade was a 10.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Hopman sold 16,158 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $16.61, for a total value of $268,384.38. Following the sale, the insider directly owned 34,132 shares in the company, valued at $566,932.52. This trade represents a 32.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,572 shares of company stock worth $521,844.

Analyst Upgrades and Downgrades

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

Beta Bionics Stock Up 0.5%

Shares of NASDAQ:BBNX traded up $0.10 on Friday, hitting $20.20. 539,151 shares of the company's stock were exchanged, compared to its average volume of 558,901. Beta Bionics, Inc. has a 12 month low of $8.89 and a 12 month high of $24.50. The business's 50 day simple moving average is $15.60 and its two-hundred day simple moving average is $15.14.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($0.51) by $0.12. The company had revenue of $23.24 million for the quarter, compared to the consensus estimate 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.