Walleye Capital LLC Makes New $1.81 Million Investment in Beta Bionics, Inc. $BBNX

Key Points

• Walleye Capital LLC acquired a new stake in Beta Bionics, Inc., purchasing 148,105 shares valued at approximately $1.81 million, representing about 0.34% ownership as of their latest filing.
• Beta Bionics has received favorable ratings from several brokerages, with a consensus rating of "Moderate Buy" and an average target price of $22.56.
• The company reported a quarterly earnings surprise, posting earnings of ($0.39) per share, exceeding analysts' expectations of ($0.51) by $0.12, and revenue of $23.24 million compared to estimates of $19.73 million.

Walleye Capital LLC bought a new position in shares of Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 148,105 shares of the company's stock, valued at approximately $1,813,000. Walleye Capital LLC owned 0.34% of Beta Bionics at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG purchased a new position in Beta Bionics during the first quarter worth about $148,000. Rhumbline Advisers purchased a new position in Beta Bionics during the first quarter worth about $158,000. Invesco Ltd. purchased a new position in Beta Bionics during the first quarter worth about $202,000. Nuveen LLC purchased a new position in Beta Bionics during the first quarter worth about $209,000. Finally, Bank of New York Mellon Corp purchased a new position in Beta Bionics during the first quarter worth about $316,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Lake Street Capital initiated coverage on shares of Beta Bionics in a research note 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 for the company. Robert W. Baird set a $17.00 price target on shares of Beta Bionics and gave the company a "neutral" rating in a research report on Wednesday, July 30th. 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. Finally, The Goldman Sachs Group initiated coverage on shares of Beta Bionics in a research report on Friday, May 30th. They set a "neutral" rating and a $16.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.56.

Beta Bionics Trading Up 0.7%

Shares of BBNX stock traded up $0.13 during trading on Friday, reaching $18.84. The company's stock had a trading volume of 385,099 shares, compared to its average volume of 610,713. The stock's 50-day moving average price is $15.17 and its 200 day moving average price is $15.12. Beta Bionics, Inc. has a 1-year low of $8.89 and a 1-year high of $24.50.

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

Insider Buying and Selling at Beta Bionics

In related news, CFO Stephen Feider sold 4,413 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $17.01, for a total value of $75,065.13. Following the completion of the sale, the chief financial officer owned 45,503 shares in the company, valued at $774,006.03. This represents a 8.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Hopman sold 16,158 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $16.61, for a total transaction of $268,384.38. Following the completion of the sale, the insider owned 34,132 shares of the company's stock, valued at approximately $566,932.52. This trade represents a 32.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,677 shares of company stock valued at $519,441.

Beta Bionics 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.