Invesco Ltd. Invests $202,000 in Beta Bionics, Inc. $BBNX

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG purchased a new position in Beta Bionics in the 1st quarter worth $148,000. Rhumbline Advisers purchased a new position in shares of Beta Bionics in the 1st quarter valued at about $158,000. Bank of New York Mellon Corp purchased a new position in shares of Beta Bionics in the 1st quarter valued at about $316,000. Values First Advisors Inc. acquired a new stake in Beta Bionics in the 1st quarter worth about $457,000. Finally, Evanson Asset Management LLC acquired a new stake in Beta Bionics in the 1st quarter worth about $475,000.

Beta Bionics Stock Performance

NASDAQ BBNX traded up $1.07 during trading hours on Friday, hitting $26.41. The company had a trading volume of 982,957 shares, compared to its average volume of 643,920. Beta Bionics, Inc. has a 1-year low of $8.89 and a 1-year high of $26.66. The business has a 50 day moving average of $16.70 and a 200-day moving average of $15.25.

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

Insider Activity

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

Analyst Ratings Changes

BBNX has been the topic of several recent research reports. Lake Street Capital initiated 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. Wolfe Research initiated 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. Truist Financial lifted their price target on shares of Beta Bionics from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Robert W. Baird set a $17.00 target price on Beta Bionics and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group started coverage on Beta Bionics in a research report on Friday, May 30th. They issued a "neutral" rating and a $16.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.56.

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.