35,960 Shares of Beta Bionics, Inc. $BBNX Acquired by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC acquired a new position in Beta Bionics, Inc. (NASDAQ:BBNX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 35,960 shares of the company’s stock, valued at approximately $683,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Beta Bionics during the second quarter valued at approximately $52,340,000. Eversept Partners LP raised its position in Beta Bionics by 108.6% in the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock worth $14,177,000 after acquiring an additional 736,576 shares during the period. Bank of America Corp DE bought a new position in Beta Bionics in the second quarter worth approximately $8,566,000. Perceptive Advisors LLC boosted its stake in shares of Beta Bionics by 39.8% during the 1st quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock worth $8,446,000 after acquiring an additional 240,000 shares during the last quarter. Finally, Bruce & Co. Inc. purchased a new position in shares of Beta Bionics during the 1st quarter worth $5,518,000.

Beta Bionics Price Performance

Shares of NASDAQ:BBNX opened at $17.81 on Thursday. Beta Bionics, Inc. has a 1-year low of $8.80 and a 1-year high of $32.71. The company has a market capitalization of $968.28 million, a P/E ratio of -9.68 and a beta of 3.44. The firm’s 50 day simple moving average is $18.60 and its two-hundred day simple moving average is $14.85.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Tuesday, October 27th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.01. The business had revenue of $35.51 million during the quarter. Beta Bionics had a negative net margin of 65.31% and a negative return on equity of 27.33%. On average, sell-side analysts anticipate that Beta Bionics, Inc. will post -2.04 earnings per share for the current fiscal year.

Insider Activity at Beta Bionics

In related news, CFO Stephen Feider sold 6,675 shares of Beta Bionics stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.11, for a total transaction of $127,559.25. Following the transaction, the chief financial officer owned 159,378 shares in the company, valued at approximately $3,045,713.58. The trade was a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Russell sold 4,221 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total transaction of $80,663.31. Following the completion of the transaction, the insider directly owned 169,628 shares of the company’s stock, valued at $3,241,591.08. This represents a 2.43% decrease in their position. 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 102,325 shares of company stock worth $2,001,710 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

BBNX has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on shares of Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Jefferies Financial Group assumed coverage on Beta Bionics in a report on Monday, October 12th. They issued a “buy” rating and a $30.00 target price on the stock. Wells Fargo & Company started coverage on Beta Bionics in a research report on Wednesday, September 23rd. They set an “overweight” rating and a $28.00 target price on the stock. Weiss Ratings raised Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. Finally, TD Cowen upped their price target on Beta Bionics from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.69.

Beta Bionics Company Profile

Beta Bionics, Inc. develops medical technology for people with insulin-dependent diabetes. Its main product is the iLet Bionic Pancreas, an automated insulin-delivery system designed to help manage blood glucose levels with less manual adjustment by users. The iLet system combines an insulin pump with dosing software that works with a continuous glucose monitor. Rather than requiring users to enter detailed insulin settings, it is initialized using the user’s body weight and adjusts insulin delivery based on glucose readings.