Beta Bionics (NASDAQ:BBNX) Shares Gap Up Following Analyst Upgrade

Beta Bionics, Inc. (NASDAQ:BBNX) gapped up before the market opened on Monday after UBS Group upgraded the stock to a strong-buy rating. The stock had previously closed at $13.08, but opened at $13.69. Beta Bionics shares last traded at $13.25, with a volume of 272,867 shares changing hands.

BBNX has been the topic of a number of other reports. Stifel Nicolaus decreased their target price on Beta Bionics from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Bank of America cut shares of Beta Bionics from a “buy” rating to a “neutral” rating in a research note on Friday, January 9th. Lake Street Capital lifted their price objective on Beta Bionics from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 9th. Wall Street Zen cut Beta Bionics from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Beta Bionics in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.42.

Insiders Place Their Bets

In other news, insider Mike Mensinger sold 7,800 shares of Beta Bionics stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $29.61, for a total value of $230,958.00. Following the completion of the sale, the insider directly owned 82,952 shares of the company’s stock, valued at approximately $2,456,208.72. This trade represents a 8.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen Feider sold 20,000 shares of Beta Bionics stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.53, for a total transaction of $590,600.00. Following the sale, the chief financial officer owned 42,614 shares of the company’s stock, valued at approximately $1,258,391.42. This represents a 31.94% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 32,490 shares of company stock worth $960,835.

Institutional Investors Weigh In On Beta Bionics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Beta Bionics during the 1st quarter worth approximately $95,000. Goldman Sachs Group Inc. acquired a new position in Beta Bionics during the first quarter worth $715,000. Woodline Partners LP bought a new position in Beta Bionics in the first quarter valued at $1,530,000. Strs Ohio acquired a new stake in Beta Bionics in the 1st quarter valued at $29,000. Finally, Rhumbline Advisers acquired a new stake in Beta Bionics in the 1st quarter valued at $158,000.

Beta Bionics Stock Performance

The firm’s 50-day simple moving average is $23.32 and its 200 day simple moving average is $22.60. The stock has a market capitalization of $621.70 million and a P/E ratio of -3.23.

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.