Lisanti Capital Growth LLC acquired a new position in Beta Bionics, Inc. (NASDAQ:BBNX – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,960 shares of the company’s stock, valued at approximately $683,000. Lisanti Capital Growth LLC owned about 0.07% of Beta Bionics at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Beta Bionics during the 2nd quarter worth $52,340,000. Eversept Partners LP increased its stake 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 last quarter. Perceptive Advisors LLC increased its stake in Beta Bionics by 39.8% in the first quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock valued at $8,446,000 after acquiring an additional 240,000 shares during the last quarter. Bruce & Co. Inc. purchased a new stake in Beta Bionics during the first quarter valued at about $5,518,000. Finally, Bank of America Corp DE purchased a new stake in Beta Bionics during the second quarter valued at about $8,566,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on BBNX shares. Weiss Ratings raised shares of Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. TD Cowen lifted their target price on shares of Beta Bionics from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. The Goldman Sachs Group boosted their price target on shares of Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Wells Fargo & Company started coverage on shares of Beta Bionics in a research report on Wednesday, September 23rd. They set an “overweight” rating and a $28.00 price target for the company. Finally, Wall Street Zen cut Beta Bionics from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.69.
View Our Latest Analysis on BBNX
Beta Bionics Trading Up 7.8%
Shares of BBNX opened at $17.81 on Thursday. The firm’s 50-day moving average price is $18.60 and its 200-day moving average price is $14.85. The firm has a market capitalization of $968.28 million, a price-to-earnings ratio of -9.68 and a beta of 3.44. Beta Bionics, Inc. has a 1-year low of $8.80 and a 1-year high of $32.71.
Beta Bionics (NASDAQ:BBNX – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate 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 business had revenue of $35.51 million during the quarter. On average, research analysts forecast that Beta Bionics, Inc. will post -2.04 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Mark Hopman sold 36,870 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $18.46, for a total transaction of $680,620.20. Following the transaction, the insider directly owned 87,157 shares of the company’s stock, valued at $1,608,918.22. This represents a 29.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Russell sold 4,221 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.11, for a total transaction of $80,663.31. Following the transaction, the insider owned 169,628 shares in the company, valued at $3,241,591.08. This represents a 2.43% 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 102,325 shares of company stock worth $2,001,710 over the last 90 days. 5.30% of the stock is currently owned by company insiders.
Beta Bionics Profile
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.
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