Brokerages Set Beta Bionics, Inc. (NASDAQ:BBNX) Target Price at $20.10

Beta Bionics, Inc. (NASDAQ:BBNX) has received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.10.

BBNX has been the subject of several analyst reports. Stifel Nicolaus decreased their target price on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beta Bionics in a report on Friday, July 17th. 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. Bank of America reduced their price target on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Finally, The Goldman Sachs Group upped their price objective on Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th.

Insider Activity at Beta Bionics

In other Beta Bionics news, insider Mark Hopman sold 5,329 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 130,887 shares of the company’s stock, valued at $1,650,485.07. This trade represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christy Jones sold 2,811 shares of Beta Bionics stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $14.00, for a total transaction of $39,354.00. Following the transaction, the director directly owned 27,400 shares of the company’s stock, valued at approximately $383,600. This trade represents a 9.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 40,351 shares of company stock worth $553,961 in the last three months. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Beta Bionics

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in Beta Bionics by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock valued at $10,105,000 after buying an additional 931 shares during the last quarter. Deutsche Bank AG raised its holdings in Beta Bionics by 3.4% in the 4th quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock valued at $1,197,000 after acquiring an additional 1,296 shares during the period. Summit Securities Group LLC bought a new position in Beta Bionics in the 4th quarter valued at about $52,000. Caitong International Asset Management Co. Ltd lifted its position in Beta Bionics by 1,075.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock worth $61,000 after acquiring an additional 1,818 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in Beta Bionics by 4.0% during the third quarter. Verition Fund Management LLC now owns 47,299 shares of the company’s stock worth $940,000 after acquiring an additional 1,823 shares during the last quarter.

Beta Bionics Stock Performance

Shares of NASDAQ BBNX opened at $15.90 on Monday. The stock has a 50 day moving average price of $15.24 and a 200 day moving average price of $13.10. The stock has a market capitalization of $715.34 million, a PE ratio of -9.64 and a beta of 3.13. Beta Bionics has a 52 week low of $8.80 and a 52 week high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%.The firm had revenue of $32.01 million for the quarter. As a group, research analysts forecast that Beta Bionics will post -2.1 EPS for the current 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.