Bruce & Co. Inc. Makes New Investment in Beta Bionics, Inc. $BBNX

Bruce & Co. Inc. purchased a new stake in Beta Bionics, Inc. (NASDAQ:BBNX) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 550,700 shares of the company’s stock, valued at approximately $5,518,000. Beta Bionics makes up 1.6% of Bruce & Co. Inc.’s holdings, making the stock its 22nd largest holding. Bruce & Co. Inc. owned 1.24% of Beta Bionics as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Eventide Asset Management LLC increased its stake in shares of Beta Bionics by 0.8% in the fourth quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock valued at $152,233,000 after buying an additional 37,476 shares in the last quarter. Soleus Capital Management L.P. lifted its position in Beta Bionics by 12.5% during the 2nd quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock worth $55,622,000 after buying an additional 424,817 shares in the last quarter. Vanguard Group Inc. grew its holdings in Beta Bionics by 213.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after acquiring an additional 1,509,217 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Beta Bionics in the 4th quarter valued at about $40,437,000. Finally, Millennium Management LLC increased its position in Beta Bionics by 18.6% in the 4th quarter. Millennium Management LLC now owns 945,461 shares of the company’s stock valued at $28,808,000 after acquiring an additional 148,497 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Mark Hopman sold 5,329 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $67,198.69. Following the transaction, the insider owned 130,887 shares in the company, valued at approximately $1,650,485.07. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stephen Feider sold 6,676 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $84,184.36. Following the transaction, the chief financial officer owned 166,053 shares in the company, valued at $2,093,928.33. The trade was a 3.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 40,351 shares of company stock valued at $553,961 in the last ninety days. 5.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BBNX has been the subject of a number of research reports. Bank of America lowered their price objective on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Truist Financial raised their target price on shares of Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Wall Street Zen cut shares of Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. The Goldman Sachs Group boosted their price target on shares of Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Finally, Leerink Partners cut their price objective on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Beta Bionics has a consensus rating of “Moderate Buy” and an average target price of $20.30.

Beta Bionics Trading Down 1.1%

BBNX opened at $16.13 on Friday. The stock has a market capitalization of $718.75 million, a P/E ratio of -10.68 and a beta of 3.04. Beta Bionics, Inc. has a 12 month low of $8.80 and a 12 month high of $32.71. The firm’s fifty day simple moving average is $14.41 and its 200 day simple moving average is $13.69.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings data on Tuesday, April 21st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.04. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. The company had revenue of $27.63 million for the quarter. On average, equities research analysts predict that Beta Bionics, Inc. will post -2.22 EPS for the current fiscal year.

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.