Brokerages Set Beta Bionics, Inc. (NASDAQ:BBNX) Price Target at $19.70

Beta Bionics, Inc. (NASDAQ:BBNX) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.30.

BBNX has been the subject of a number of recent research reports. Bank of America decreased 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. Leerink Partners dropped their target price on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings cut Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. Truist Financial increased their price target on Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wall Street Zen lowered shares of Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th.

Beta Bionics Stock Performance

Shares of NASDAQ:BBNX opened at $16.86 on Thursday. The company has a 50-day simple moving average of $13.54 and a 200-day simple moving average of $14.28. Beta Bionics has a one year low of $8.80 and a one year high of $32.71. The stock has a market capitalization of $751.32 million, a price-to-earnings ratio of -11.17 and a beta of 3.04.

Beta Bionics (NASDAQ:BBNX) last announced its earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $27.63 million during the quarter. As a group, research analysts forecast that Beta Bionics will post -2.22 EPS for the current fiscal year.

Insider Activity at Beta Bionics

In other news, CFO Stephen Feider sold 6,676 shares of Beta Bionics stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $84,184.36. Following the sale, the chief financial officer owned 166,053 shares of the company’s stock, valued at $2,093,928.33. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Hopman sold 5,329 shares of the business’s stock in a transaction dated 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 40,351 shares of company stock worth $553,961 in the last 90 days. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Beta Bionics

A number of institutional investors have recently added to or reduced their stakes in BBNX. Strs Ohio purchased a new position in shares of Beta Bionics during the 1st quarter worth approximately $29,000. Summit Securities Group LLC purchased a new stake in shares of Beta Bionics in the fourth quarter valued at approximately $52,000. Legal & General Group Plc boosted its stake in shares of Beta Bionics by 197.4% in the second quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after buying an additional 2,639 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Beta Bionics by 1,075.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock valued at $61,000 after buying an additional 1,818 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Beta Bionics during the first quarter worth $95,000.

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.