Beta Bionics, Inc. (NASDAQ:BBNX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $24.4444.

BBNX has been the topic of a number of recent research reports. Robert W. Baird set a $17.00 price objective on Beta Bionics and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. The Goldman Sachs Group set a $26.00 price objective on Beta Bionics and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Beta Bionics in a research note on Wednesday. Finally, Truist Financial boosted their price objective on Beta Bionics from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd.

Insider Buying and Selling at Beta Bionics

In other news, insider Mark Hopman sold 16,158 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $16.61, for a total value of $268,384.38. Following the transaction, the insider owned 34,132 shares of the company’s stock, valued at $566,932.52. This represents a 32.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen Feider sold 15,018 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $20.76, for a total value of $311,773.68. Following the completion of the transaction, the chief financial officer directly owned 44,041 shares in the company, valued at approximately $914,291.16. This trade represents a 25.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,901 shares of company stock worth $1,314,543.

Hedge Funds Weigh In On Beta Bionics

Large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. acquired a new position in shares of Beta Bionics in the 1st quarter valued at $918,000. Invesco Ltd. acquired a new position in shares of Beta Bionics in the 1st quarter valued at $202,000. Corebridge Financial Inc. acquired a new position in Beta Bionics during the 1st quarter worth about $79,000. Bank of New York Mellon Corp acquired a new position in Beta Bionics during the 1st quarter worth about $316,000. Finally, Nuveen LLC acquired a new position in Beta Bionics during the 1st quarter worth about $209,000.

Beta Bionics Price Performance

NASDAQ BBNX opened at $21.03 on Tuesday. The stock’s fifty day moving average is $19.83 and its two-hundred day moving average is $16.03. Beta Bionics has a fifty-two week low of $8.89 and a fifty-two week high of $26.66.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates 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.

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.