Beta Bionics (NASDAQ:BBNX) Price Target Raised to $28.00 at Truist Financial

Key Points

• Truist Financial has increased the price target for Beta Bionics (NASDAQ:BBNX) from $21.00 to $28.00, indicating a potential upside of 25.62% from its previous close.
• Several brokerages have issued varied ratings on Beta Bionics, with one analyst giving it a "Strong Buy" and the average target price now standing at $23.33.
• Beta Bionics recently reported a quarterly earnings beat, with earnings per share of ($0.39) compared to the consensus estimate of ($0.51), and revenue of $23.24 million surpassing estimates.

Beta Bionics (NASDAQ:BBNX - Free Report) had its target price lifted by Truist Financial from $21.00 to $28.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

BBNX has been the subject of a number of other reports. Robert W. Baird set a $17.00 price objective on shares of Beta Bionics and gave the company a "neutral" rating in a research note on Wednesday, July 30th. 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 objective on the stock. Lake Street Capital initiated coverage on Beta Bionics in a research report on Thursday, June 12th. They issued a "buy" rating and a $30.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on Beta Bionics in a research report on Friday, May 30th. They set a "neutral" rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.33.

Beta Bionics Stock Performance

Shares of BBNX traded up $0.44 during mid-day trading on Monday, hitting $22.90. The company's stock had a trading volume of 1,098,486 shares, compared to its average volume of 960,858. The firm has a 50-day moving average price of $17.92 and a 200 day moving average price of $15.42. Beta Bionics has a fifty-two week low of $8.89 and a fifty-two week high of $26.66.

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 company 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.

Insider Buying and Selling at Beta Bionics

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

Institutional Investors Weigh In On Beta Bionics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers acquired a new position in Beta Bionics during the first quarter valued at approximately $158,000. Evanson Asset Management LLC bought a new stake in shares of Beta Bionics during the 1st quarter worth $475,000. Bank of New York Mellon Corp bought a new stake in shares of Beta Bionics during the 1st quarter worth $316,000. Values First Advisors Inc. acquired a new position in Beta Bionics in the 1st quarter valued at $457,000. Finally, Jennison Associates LLC bought a new position in Beta Bionics in the 1st quarter worth $828,000.

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.