Truist Financial Lowers Beta Bionics (NASDAQ:BBNX) Price Target to $18.00

Key Points

• Truist Financial cut its price target for Beta Bionics from $25 to $18 but maintained a "buy" rating, with the new target implying about 39.9% upside from the prior close.
• Analyst coverage is mixed—ratings range from Strong Buy to Sell, and MarketBeat shows a consensus of Moderate Buy with an average price target of $22.00.
• Shares opened at $12.87 (trading up 8.9%), the company has a market cap of about $573M and high volatility (beta 5.06); recent quarterly results showed a loss of ($0.30) per share that beat estimates and revenue of $32.12M.

Beta Bionics (NASDAQ:BBNX - Get Free Report) had its price objective reduced by research analysts at Truist Financial from $25.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 39.91% from the stock's previous close.

Several other research analysts have also recently commented on the stock. Bank of America cut shares of Beta Bionics from a "buy" rating to a "neutral" rating in a report on Friday, January 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Beta Bionics in a report on Friday, March 27th. Stifel Nicolaus reduced their target price on shares of Beta Bionics from $25.00 to $22.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. Wall Street Zen cut shares of Beta Bionics from a "hold" rating to a "sell" rating in a report on Sunday, March 29th. Finally, TD Cowen initiated coverage on shares of Beta Bionics in a report on Monday, January 26th. They set a "hold" rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Beta Bionics Trading Up 8.9%

Shares of BBNX opened at $12.87 on Wednesday. Beta Bionics has a 12 month low of $8.80 and a 12 month high of $32.71. The firm has a fifty day simple moving average of $11.70 and a 200 day simple moving average of $20.25. The stock has a market capitalization of $573.26 million, a price-to-earnings ratio of -6.64 and a beta of 5.06.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its earnings results on Tuesday, February 17th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.12. Beta Bionics had a negative net margin of 73.02% and a negative return on equity of 20.29%. The business had revenue of $32.12 million during the quarter.

Institutional Trading of Beta Bionics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC raised its position in Beta Bionics by 45.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company's stock worth $29,000 after acquiring an additional 450 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Beta Bionics by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company's stock worth $10,105,000 after acquiring an additional 931 shares in the last quarter. Deutsche Bank AG raised its position in Beta Bionics by 3.4% during the fourth quarter. Deutsche Bank AG now owns 39,300 shares of the company's stock worth $1,197,000 after acquiring an additional 1,296 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Beta Bionics by 203.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company's stock valued at $47,000 after purchasing an additional 1,594 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of Beta Bionics in the fourth quarter valued at about $52,000.

Beta Bionics Company Profile

Beta Bionics, a clinical-stage medical device company headquartered in Boston, Massachusetts, is focused on revolutionizing the management of type 1 diabetes through automated insulin delivery solutions. The company's flagship product, the iLet Bionic Pancreas system, is designed to simplify glycemic control by automatically adjusting insulin dosing in response to continuous glucose monitoring data. By integrating advanced algorithmic control with wearable infusion pumps, the iLet aims to reduce the daily burden of diabetes management and improve clinical outcomes for patients.

At the core of Beta Bionics' offering is its proprietary bionic pancreas software, which can operate in both insulin-only and dual‐hormone modes.

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