Research analysts at UBS Group assumed coverage on shares of Beta Bionics (NASDAQ:BBNX – Get Free Report) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $22.00 price target on the stock. UBS Group’s price objective indicates a potential upside of 38.15% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group increased their price objective on Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Bank of America decreased their target price on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Beta Bionics in a research note on Friday, July 17th. Leerink Partners cut their price target on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Finally, Stifel Nicolaus reduced their price objective on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Beta Bionics presently has an average rating of “Moderate Buy” and a consensus price target of $20.10.
View Our Latest Report on Beta Bionics
Beta Bionics Trading Down 0.4%
Insider Activity at Beta Bionics
In other Beta Bionics news, Director Christy Jones sold 2,811 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $14.00, for a total transaction of $39,354.00. Following the transaction, the director owned 27,400 shares in the company, valued at $383,600. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stephen Feider sold 6,676 shares of Beta Bionics stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $84,184.36. Following the completion of the transaction, the chief financial officer directly owned 166,053 shares in the company, valued at approximately $2,093,928.33. This represents a 3.87% decrease in their position. 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. Over the last 90 days, insiders have sold 40,351 shares of company stock valued at $553,961. 5.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On Beta Bionics
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Beta Bionics by 213.5% during the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after buying an additional 1,509,217 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Beta Bionics in the 4th quarter worth approximately $40,437,000. Eversept Partners LP grew 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 valued at $14,177,000 after acquiring an additional 736,576 shares during the period. 12 West Capital Management LP bought a new stake in Beta Bionics in the fourth quarter valued at $17,520,000. Finally, Bruce & Co. Inc. bought a new position in shares of Beta Bionics during the first quarter valued at $5,518,000.
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.
Further Reading
- Five stocks we like better than Beta Bionics
- 3 Stocks Standing Out and 2 Losing Momentum as the Tech Rally Cracks
- 5 AI Stocks Are Pulling Back—Which Growth Catalysts Still Look Strongest?
- Middleby Is Betting a Leaner Business Can Unlock More Value
- 3 Value ETFs to Consider as Growth Stocks Lag Behind
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.
