Weiss Ratings Reaffirms "Sell (D)" Rating for Beta Bionics (NASDAQ:BBNX)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D)" rating for Beta Bionics (NASDAQ:BBNX) amidst mixed opinions from other analysts, with recent target prices ranging from $17.00 to $30.00.
• Beta Bionics shares have traded down 0.1%, settling at $22.13 with a trading volume of 451,004 shares, compared to the average volume of 596,859 shares.
• Insider trading activity has seen significant sales, with CFO Stephen Feider selling 4,982 shares and another insider, Mark Hopman, selling 11,411 shares, leading to substantial decreases in their stock positions.

Beta Bionics (NASDAQ:BBNX - Get Free Report)'s stock had its "sell (d)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently commented on BBNX. Truist Financial boosted their target price on Beta Bionics from $21.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. The Goldman Sachs Group set a $26.00 target price on Beta Bionics and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Lake Street Capital assumed coverage on Beta Bionics in a research report on Thursday, June 12th. They issued a "buy" rating and a $30.00 target price on the stock. Finally, Robert W. Baird set a $17.00 target price on Beta Bionics and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.44.

Beta Bionics Stock Down 0.1%

Shares of Beta Bionics stock traded down $0.02 on Wednesday, reaching $22.13. The company's stock had a trading volume of 451,004 shares, compared to its average volume of 596,859. The firm's fifty day simple moving average is $19.52 and its two-hundred day simple moving average is $15.88. Beta Bionics has a 52 week low of $8.89 and a 52 week high of $26.66.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.12. The firm had revenue of $23.24 million during the quarter, compared to the consensus estimate 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 4,982 shares of the firm's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $21.69, for a total value of $108,059.58. Following the completion of the transaction, the chief financial officer owned 44,041 shares in the company, valued at $955,249.29. This trade represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Hopman sold 11,411 shares of the firm's stock in a transaction on 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 transaction, the insider owned 31,215 shares of the company's stock, valued at $641,780.40. This trade represents a 26.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,901 shares of company stock valued at $1,314,543.

Hedge Funds Weigh In On Beta Bionics

A number of institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new position in shares of Beta Bionics in the 1st quarter valued at about $918,000. Invesco Ltd. purchased a new position in shares of Beta Bionics in the 1st quarter valued at about $202,000. Corebridge Financial Inc. acquired a new stake in Beta Bionics in the 1st quarter worth about $79,000. Bank of New York Mellon Corp acquired a new stake in Beta Bionics in the 1st quarter worth about $316,000. Finally, Nuveen LLC acquired a new stake in Beta Bionics in the 1st quarter worth about $209,000.

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.

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