Beta Bionics (NASDAQ:BBNX) Shares Up 8.7% – Here’s What Happened

Beta Bionics, Inc. (NASDAQ:BBNX) shares traded up 8.7% during mid-day trading on Monday . The company traded as high as $32.06 and last traded at $31.80. 1,270,709 shares were traded during trading, an increase of 99% from the average session volume of 638,710 shares. The stock had previously closed at $29.25.

Wall Street Analyst Weigh In

Several analysts have weighed in on BBNX shares. Lake Street Capital reissued a “buy” rating and set a $35.00 target price on shares of Beta Bionics in a research report on Wednesday, October 29th. Robert W. Baird set a $28.00 price target on shares of Beta Bionics in a report on Tuesday, December 16th. The Goldman Sachs Group boosted their target price on Beta Bionics from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen upgraded Beta Bionics from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $32.00 target price (up previously from $26.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Beta Bionics presently has a consensus rating of “Moderate Buy” and an average target price of $29.33.

Beta Bionics Trading Up 8.3%

The company has a market capitalization of $1.40 billion and a price-to-earnings ratio of -7.25. The firm has a 50-day simple moving average of $26.95 and a two-hundred day simple moving average of $21.09.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.12. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%. The firm had revenue of $27.25 million for the quarter, compared to the consensus estimate of $23.92 million.

Insider Buying and Selling at Beta Bionics

In other news, CFO Stephen Feider sold 1,427 shares of Beta Bionics stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.34, for a total value of $41,868.18. Following the completion of the transaction, the chief financial officer directly owned 42,614 shares of the company’s stock, valued at approximately $1,250,294.76. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maria Palasis sold 1,406 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $26.91, for a total value of $37,835.46. Following the transaction, the director directly owned 9,841 shares in the company, valued at approximately $264,821.31. This trade represents a 12.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 25,302 shares of company stock worth $568,505.

Hedge Funds Weigh In On Beta Bionics

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. bought a new position in Beta Bionics in the 1st quarter worth approximately $1,244,000. Deutsche Bank AG purchased a new position in Beta Bionics in the first quarter worth $148,000. Invesco Ltd. purchased a new stake in Beta Bionics in the first quarter worth approximately $202,000. Nuveen LLC purchased a new position in Beta Bionics in the 1st quarter worth $209,000. Finally, Wellington Management Group LLP purchased a new stake in Beta Bionics during the 1st quarter valued at about $47,346,000.

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.