67,611 Shares in Beta Bionics, Inc. (NASDAQ:BBNX) Bought by Jennison Associates LLC

Jennison Associates LLC purchased a new position in Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 67,611 shares of the company's stock, valued at approximately $828,000. Jennison Associates LLC owned approximately 0.16% of Beta Bionics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new stake in shares of Beta Bionics during the first quarter worth $158,000. Bank of New York Mellon Corp purchased a new stake in shares of Beta Bionics during the first quarter worth $316,000. Values First Advisors Inc. purchased a new stake in shares of Beta Bionics during the first quarter worth $457,000. Finally, Evanson Asset Management LLC purchased a new stake in shares of Beta Bionics during the first quarter worth $475,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of Beta Bionics in a report on Monday, June 16th. They set a "buy" rating and a $26.00 target price for the company. The Goldman Sachs Group started coverage on shares of Beta Bionics in a report on Friday, May 30th. They issued a "neutral" rating and a $16.00 price objective for the company. Wolfe Research assumed coverage on shares of Beta Bionics in a research note on Friday, May 30th. They set an "outperform" rating and a $20.00 target price on the stock. Finally, Lake Street Capital assumed coverage on shares of Beta Bionics in a report on Thursday, June 12th. They issued a "buy" rating and a $30.00 target price on the stock. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.44.

Beta Bionics Stock Down 2.6%

BBNX traded down $0.39 during trading hours on Thursday, hitting $14.38. 134,630 shares of the company's stock were exchanged, compared to its average volume of 485,347. Beta Bionics, Inc. has a 12-month low of $8.89 and a 12-month high of $24.50. The stock's 50 day moving average price is $15.69.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.52) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.01).

Insider Activity

In other news, CFO Stephen Feider sold 1,497 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $26,781.33. Following the completion of the transaction, the chief financial officer owned 45,503 shares in the company, valued at approximately $814,048.67. This represents a 3.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 4,519 shares of company stock valued at $80,845.

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.