Beta Bionics (NASDAQ:BBNX) Shares Up 7.9% – Still a Buy?

Beta Bionics, Inc. (NASDAQ:BBNX)’s share price rose 7.9% during mid-day trading on Tuesday . The company traded as high as $15.09 and last traded at $14.97. Approximately 115,005 shares were traded during trading, a decline of 92% from the average daily volume of 1,399,093 shares. The stock had previously closed at $13.87.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Bank of America downgraded shares of Beta Bionics from a “buy” rating to a “neutral” rating in a research note on Friday, January 9th. Stifel Nicolaus dropped their target price on shares of Beta Bionics from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Lake Street Capital raised their price target on Beta Bionics from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $25.00 price objective on shares of Beta Bionics in a research note on Thursday, January 15th. Finally, Truist Financial cut their target price on Beta Bionics from $37.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.42.

Beta Bionics Stock Performance

The company has a 50-day moving average of $23.92 and a 200-day moving average of $22.66. The firm has a market capitalization of $659.57 million and a price-to-earnings ratio of -3.43.

Insiders Place Their Bets

In other Beta Bionics news, CFO Stephen Feider sold 20,000 shares of Beta Bionics stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $29.53, for a total value of $590,600.00. Following the sale, the chief financial officer owned 42,614 shares of the company’s stock, valued at $1,258,391.42. This trade represents a 31.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mike Mensinger sold 2,200 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $30.10, for a total value of $66,220.00. Following the transaction, the insider directly owned 80,752 shares of the company’s stock, valued at $2,430,635.20. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 32,490 shares of company stock worth $960,835.

Hedge Funds Weigh In On Beta Bionics

Several hedge funds have recently made changes to their positions in BBNX. Essex Investment Management Co. LLC bought a new position in shares of Beta Bionics in the third quarter valued at $4,423,000. Divisadero Street Capital Management LP acquired a new position in shares of Beta Bionics during the 2nd quarter worth about $13,817,000. Sands Capital Alternatives LLC raised its holdings in shares of Beta Bionics by 15.0% in the 2nd quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock valued at $51,981,000 after purchasing an additional 466,331 shares during the period. Walleye Capital LLC raised its holdings in shares of Beta Bionics by 47.3% in the 2nd quarter. Walleye Capital LLC now owns 218,189 shares of the company’s stock valued at $3,177,000 after purchasing an additional 70,084 shares during the period. Finally, Values First Advisors Inc. grew its holdings in Beta Bionics by 13.2% during the second quarter. Values First Advisors Inc. now owns 42,563 shares of the company’s stock worth $620,000 after purchasing an additional 4,978 shares during the period.

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.