TD Asset Management Inc Acquires Shares of 39,876 Beta Bionics, Inc. (NASDAQ:BBNX)

Key Points

• TD Asset Management Inc acquired 39,876 shares of Beta Bionics, valued at approximately $488,000, indicating institutional interest in the company.
• Research analysts have varying opinions on Beta Bionics, with price targets ranging from $16.00 to $30.00 and a consensus rating of "Moderate Buy."
• The stock recently opened at $16.42, with a reported quarterly revenue of $23.24 million, exceeding consensus estimates.

TD Asset Management Inc acquired a new stake in Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 39,876 shares of the company's stock, valued at approximately $488,000. TD Asset Management Inc owned about 0.09% of Beta Bionics as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BBNX. Rhumbline Advisers bought a new position in Beta Bionics during the first quarter worth $158,000. Bank of New York Mellon Corp acquired a new stake in Beta Bionics during the 1st quarter worth about $316,000. Values First Advisors Inc. acquired a new stake in Beta Bionics during the 1st quarter worth about $457,000. Evanson Asset Management LLC bought a new position in shares of Beta Bionics in the 1st quarter worth about $475,000. Finally, Jennison Associates LLC acquired a new position in shares of Beta Bionics in the 1st quarter valued at about $828,000.

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of Beta Bionics stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction 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. The trade was a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 4,519 shares of company stock valued at $80,845.

Beta Bionics Trading Down 0.1%

NASDAQ BBNX traded down $0.02 during mid-day trading on Friday, hitting $15.07. The company's stock had a trading volume of 138,496 shares, compared to its average volume of 513,180. The firm's 50 day moving average price is $15.82. Beta Bionics, Inc. has a twelve month low of $8.89 and a twelve month high of $24.50.

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 for the quarter, beating analysts' consensus estimates of ($0.51) by $0.12. The business had revenue of $23.24 million during the quarter, compared to the consensus estimate of $19.73 million.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BBNX shares. The Goldman Sachs Group assumed coverage on Beta Bionics in a research note on Friday, May 30th. They set a "neutral" rating and a $16.00 target price for the company. Truist Financial raised their price objective on shares of Beta Bionics from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Lake Street Capital started coverage on shares of Beta Bionics in a research note on Thursday, June 12th. They issued a "buy" rating and a $30.00 price objective for the company. Wolfe Research started 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, Robert W. Baird set a $17.00 price target on shares of Beta Bionics and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.