Beta Bionics (NASDAQ:BBNX) Shares Gap Down on Analyst Downgrade

Beta Bionics, Inc. (NASDAQ:BBNX) gapped down before the market opened on Friday after Bank of America downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $31.99, but opened at $22.75. Beta Bionics shares last traded at $21.34, with a volume of 1,589,063 shares changing hands.

BBNX has been the topic of a number of other research reports. Piper Sandler reissued an “overweight” rating and issued a $32.00 price target (up previously from $26.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 target price (up previously from $26.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Truist Financial upped their price target on shares of Beta Bionics from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, December 18th. The Goldman Sachs Group raised their price target on Beta Bionics from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Beta Bionics in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Beta Bionics presently has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Insider Activity at Beta Bionics

In other Beta Bionics news, insider Mike Mensinger sold 7,800 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.61, for a total value of $230,958.00. Following the completion of the transaction, the insider owned 82,952 shares of the company’s stock, valued at $2,456,208.72. This represents a 8.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maria Palasis sold 1,406 shares of Beta Bionics 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 sale, the director directly owned 9,841 shares in the company, valued at $264,821.31. The trade was a 12.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,302 shares of company stock worth $1,036,449 over the last ninety days.

Institutional Investors Weigh In On Beta Bionics

Several institutional investors and hedge funds have recently bought and sold shares of the business. GPS Wealth Strategies Group LLC raised its stake in shares of Beta Bionics by 45.0% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after buying an additional 450 shares in the last quarter. Strs Ohio acquired a new position in Beta Bionics in the first quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its stake in Beta Bionics by 203.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock worth $47,000 after purchasing an additional 1,594 shares during the period. CWM LLC acquired a new stake in Beta Bionics during the second quarter valued at approximately $58,000. Finally, Legal & General Group Plc grew its stake in shares of Beta Bionics by 197.4% in the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after purchasing an additional 2,639 shares during the period.

Beta Bionics Trading Down 33.3%

The firm has a market capitalization of $939.49 million and a price-to-earnings ratio of -4.88. The stock has a fifty day moving average price of $29.43 and a 200-day moving average price of $22.24.

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

About Beta Bionics

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.