Invesco Ltd. Acquires New Position in Beta Bionics, Inc. $BBNX

Invesco Ltd. acquired a new stake in shares of Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 16,464 shares of the company's stock, valued at approximately $202,000.

Several other large investors also recently bought and sold shares of the business. Deutsche Bank AG purchased a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $148,000. Rhumbline Advisers purchased a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $158,000. Bank of New York Mellon Corp purchased a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $316,000. Values First Advisors Inc. purchased a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $457,000. Finally, Evanson Asset Management LLC purchased a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $475,000.

Insider Buying and Selling

In other Beta Bionics news, insider Mark Hopman sold 11,411 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $20.56, for a total transaction of $234,610.16. Following the sale, the insider directly owned 31,215 shares in the company, valued at $641,780.40. This represents a 26.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen Feider sold 1,462 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $18.86, for a total transaction of $27,573.32. Following the sale, the chief financial officer owned 44,041 shares in the company, valued at approximately $830,613.26. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,901 shares of company stock worth $894,710.

Analyst Upgrades and Downgrades

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

Beta Bionics Stock Up 14.5%

NASDAQ:BBNX opened at $23.13 on Tuesday. Beta Bionics, Inc. has a fifty-two week low of $8.89 and a fifty-two week high of $24.50. The company has a 50 day moving average price of $15.77 and a 200 day moving average price of $15.07.

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

About Beta Bionics

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.

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