Beta Bionics, Inc. (NASDAQ:BBNX) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Beta Bionics, Inc. (NASDAQ:BBNX – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $23.69.

Several research firms have weighed in on BBNX. Barclays began coverage on Beta Bionics in a research report on Tuesday, October 6th. They set an “overweight” rating and a $30.00 price target for the company. Truist Financial upped their price objective on Beta Bionics from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. William Blair initiated coverage on Beta Bionics in a research report on Friday, August 21st. They issued a “market perform” rating on the stock. TD Cowen increased their price objective on Beta Bionics from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, October 28th. Finally, The Goldman Sachs Group boosted their target price on shares of Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th.

Get Our Latest Report on Beta Bionics

Beta Bionics Price Performance

Shares of BBNX opened at $16.52 on Wednesday. Beta Bionics has a 1-year low of $8.80 and a 1-year high of $32.71. The stock has a market cap of $898.19 million, a price-to-earnings ratio of -8.98 and a beta of 3.44. The firm has a 50 day simple moving average of $18.62 and a 200-day simple moving average of $14.84.

Beta Bionics (NASDAQ:BBNX – Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.01. Beta Bionics had a negative return on equity of 27.33% and a negative net margin of 65.31%. The firm had revenue of $35.51 million for the quarter. On average, equities analysts expect that Beta Bionics will post -2.04 earnings per share for the current fiscal year.

Insider Activity at Beta Bionics

In other news, insider Steven Russell sold 4,221 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.11, for a total value of $80,663.31. Following the completion of the transaction, the insider owned 169,628 shares of the company’s stock, valued at $3,241,591.08. The trade was a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mike Mensinger sold 2,650 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $22.00, for a total transaction of $58,300.00. Following the completion of the transaction, the insider directly owned 174,740 shares of the company’s stock, valued at approximately $3,844,280. This represents a 1.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 102,325 shares of company stock worth $2,001,710 over the last three months. Company insiders own 5.30% of the company’s stock.

Institutional Trading of Beta Bionics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ieq Capital LLC raised its holdings in Beta Bionics by 33.9% in the 3rd quarter. Ieq Capital LLC now owns 19,550 shares of the company’s stock valued at $371,000 after acquiring an additional 4,953 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Beta Bionics during the 3rd quarter worth $683,000. Jefferies Financial Group Inc. acquired a new stake in shares of Beta Bionics during the third quarter worth $1,708,000. Commonwealth Equity Services LLC boosted its holdings in shares of Beta Bionics by 34.7% during the third quarter. Commonwealth Equity Services LLC now owns 31,795 shares of the company’s stock worth $603,000 after purchasing an additional 8,196 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Beta Bionics during the second quarter worth $2,524,000.

About Beta Bionics

(Get Free Report)

Beta Bionics, Inc. develops medical technology for people with insulin-dependent diabetes. Its main product is the iLet Bionic Pancreas, an automated insulin-delivery system designed to help manage blood glucose levels with less manual adjustment by users. The iLet system combines an insulin pump with dosing software that works with a continuous glucose monitor. Rather than requiring users to enter detailed insulin settings, it is initialized using the user’s body weight and adjusts insulin delivery based on glucose readings.

Further Reading

Analyst Recommendations for Beta Bionics (NASDAQ:BBNX)

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