Eversept Partners LP acquired a new stake in Beta Bionics, Inc. (NASDAQ:BBNX – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 678,262 shares of the company’s stock, valued at approximately $20,667,000. Beta Bionics makes up approximately 1.0% of Eversept Partners LP’s portfolio, making the stock its 23rd biggest position.
Several other large investors also recently bought and sold shares of BBNX. Vanguard Group Inc. grew its position in Beta Bionics by 213.5% in the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after acquiring an additional 1,509,217 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Beta Bionics in the fourth quarter valued at approximately $40,437,000. 12 West Capital Management LP acquired a new stake in Beta Bionics in the fourth quarter valued at approximately $17,520,000. Soleus Capital Management L.P. grew its position 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. Finally, Norges Bank acquired a new stake in Beta Bionics in the fourth quarter valued at approximately $10,338,000.
Beta Bionics Trading Down 5.4%
Beta Bionics stock opened at $13.19 on Thursday. The stock has a market cap of $587.75 million, a P/E ratio of -8.74 and a beta of 3.40. The stock has a 50 day moving average of $11.55 and a 200-day moving average of $16.23. Beta Bionics, Inc. has a 52 week low of $8.80 and a 52 week high of $32.71.
Analyst Ratings Changes
A number of equities analysts have issued reports on BBNX shares. Weiss Ratings lowered Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Truist Financial reduced their target price on Beta Bionics from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Robert W. Baird reduced their target price on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Lake Street Capital set a $20.00 target price on Beta Bionics in a research note on Wednesday, February 18th. Finally, Stifel Nicolaus reduced their target price on Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.70.
Check Out Our Latest Report on BBNX
Insider Buying and Selling at Beta Bionics
In related news, CFO Stephen Feider sold 6,676 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $84,184.36. Following the sale, the chief financial officer directly owned 166,053 shares of the company’s stock, valued at approximately $2,093,928.33. This represents a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mike Mensinger sold 4,378 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $55,206.58. Following the sale, the insider directly owned 184,415 shares in the company, valued at approximately $2,325,473.15. This represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 27,687 shares of company stock worth $343,586. 5.30% of the stock is owned by insiders.
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.
Featured Stories
- Five stocks we like better than Beta Bionics
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding BBNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beta Bionics, Inc. (NASDAQ:BBNX – Free Report).
Receive News & Ratings for Beta Bionics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beta Bionics and related companies with MarketBeat.com's FREE daily email newsletter.
