Y Intercept Hong Kong Ltd boosted its position in Beta Bionics, Inc. (NASDAQ:BBNX – Free Report) by 4,236.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 485,854 shares of the company’s stock after purchasing an additional 474,651 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 1.09% of Beta Bionics worth $4,868,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Beta Bionics by 3,238.0% in the third quarter. JPMorgan Chase & Co. now owns 205,955 shares of the company’s stock worth $4,092,000 after acquiring an additional 199,785 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Beta Bionics during the fourth quarter valued at about $4,579,000. Farallon Capital Management LLC raised its position in shares of Beta Bionics by 2.6% in the 3rd quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock valued at $85,718,000 after purchasing an additional 110,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Beta Bionics in the 4th quarter valued at approximately $40,437,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Beta Bionics in the 4th quarter worth approximately $1,566,000.
Beta Bionics Price Performance
Shares of BBNX opened at $16.76 on Monday. The company has a market capitalization of $746.83 million, a price-to-earnings ratio of -11.10 and a beta of 3.04. Beta Bionics, Inc. has a 52 week low of $8.80 and a 52 week high of $32.71. The stock’s 50-day moving average price is $12.54 and its 200-day moving average price is $15.04.
Insider Activity
In related news, insider Steven Jon Russell sold 4,222 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $53,239.42. Following the sale, the insider owned 173,849 shares in the company, valued at approximately $2,192,235.89. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Hopman sold 5,329 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $67,198.69. Following the completion of the transaction, the insider owned 130,887 shares of the company’s stock, valued at approximately $1,650,485.07. This trade represents a 3.91% 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. Insiders sold a total of 40,351 shares of company stock valued at $553,961 in the last three months. Corporate insiders own 5.30% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. Truist Financial dropped their target price on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. The Goldman Sachs Group dropped their price objective on shares of Beta Bionics from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Bank of America cut their target price on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Leerink Partners reduced their target price on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Wall Street Zen downgraded Beta Bionics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Beta Bionics presently has an average rating of “Moderate Buy” and a consensus target price of $19.70.
Read Our Latest Stock Analysis on BBNX
Beta Bionics 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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