Shares of Beta Bionics, Inc. (NASDAQ:BBNX – Get Free Report) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $19.70.
Several analysts recently weighed in on BBNX shares. Weiss Ratings lowered Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, April 21st. Lake Street Capital set a $20.00 price objective on Beta Bionics in a report on Wednesday, February 18th. Stifel Nicolaus decreased 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. The Goldman Sachs Group decreased their target price on Beta Bionics from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, Bank of America decreased their target price on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 18th.
Check Out Our Latest Research Report on Beta Bionics
Beta Bionics Stock Down 1.1%
Beta Bionics (NASDAQ:BBNX – Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.04. The firm had revenue of $27.63 million during the quarter. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%. As a group, equities research analysts anticipate that Beta Bionics will post -2.22 earnings per share for the current year.
Insider Buying and Selling
In other Beta Bionics news, insider Mark Hopman sold 5,329 shares of Beta Bionics stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $67,198.69. Following the completion of the transaction, the insider directly owned 130,887 shares in the company, valued at $1,650,485.07. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 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 value of $55,206.58. Following the completion of the transaction, the insider owned 184,415 shares of the company’s stock, valued at approximately $2,325,473.15. The trade was 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. Insiders sold a total of 27,687 shares of company stock valued at $343,586 over the last 90 days. 5.30% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Beta Bionics
A number of hedge funds and other institutional investors have recently bought and sold shares of BBNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Beta Bionics in the first quarter valued at approximately $95,000. Goldman Sachs Group Inc. acquired a new position in Beta Bionics in the first quarter valued at approximately $715,000. Woodline Partners LP acquired a new position in Beta Bionics in the first quarter valued at approximately $1,530,000. Strs Ohio acquired a new position in shares of Beta Bionics during the first quarter worth approximately $29,000. Finally, Rhumbline Advisers acquired a new position in shares of Beta Bionics during the first quarter worth approximately $158,000.
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.
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