Beta Bionics, Inc. (NASDAQ:BBNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $22.5556.

A number of equities analysts have recently commented on BBNX shares. Wolfe Research began coverage on Beta Bionics in a research report on Friday, May 30th. They set an “outperform” rating and a $20.00 price objective for the company. Robert W. Baird set a $17.00 price target on shares of Beta Bionics and gave the stock a “neutral” rating in a report on Wednesday, July 30th. The Goldman Sachs Group started coverage on shares of Beta Bionics in a research note on Friday, May 30th. They set a “neutral” rating and a $16.00 target price for the company. Truist Financial boosted their target price on shares of Beta Bionics from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Finally, Lake Street Capital initiated coverage on Beta Bionics in a research report on Thursday, June 12th. They set a “buy” rating and a $30.00 price objective for the company.

Beta Bionics Price Performance

BBNX opened at $23.29 on Friday. Beta Bionics has a 12 month low of $8.89 and a 12 month high of $26.66. The business has a fifty day moving average price of $17.13 and a 200 day moving average price of $15.31.

Beta Bionics (NASDAQ:BBNX) last released its earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.12. The company had revenue of $23.24 million for the quarter, compared to analyst estimates of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Buying and Selling

In other news, insider Mark Hopman sold 16,158 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $16.61, for a total value of $268,384.38. Following the completion of the transaction, the insider owned 34,132 shares in the company, valued at approximately $566,932.52. This represents a 32.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephen Feider sold 5,587 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $17.03, for a total transaction of $95,146.61. Following the completion of the transaction, the chief financial officer owned 45,503 shares of the company’s stock, valued at approximately $774,916.09. The trade was a 10.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,901 shares of company stock valued at $894,710 over the last ninety days.

Hedge Funds Weigh In On Beta Bionics

Several large investors have recently bought and sold shares of the stock. Soleus Capital Management L.P. boosted its stake in Beta Bionics by 12.5% in the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock valued at $55,622,000 after acquiring an additional 424,817 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Beta Bionics in the 2nd quarter valued at about $3,556,000. Bank of America Corp DE boosted its position in shares of Beta Bionics by 17.4% in the 2nd quarter. Bank of America Corp DE now owns 72,245 shares of the company’s stock valued at $1,052,000 after purchasing an additional 10,687 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Beta Bionics in the 2nd quarter valued at about $3,150,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Beta Bionics in the 2nd quarter valued at about $288,000.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.