Short Interest in Beta Bionics, Inc. (NASDAQ:BBNX) Drops By 24.0%

Beta Bionics, Inc. (NASDAQ:BBNX) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totaling 5,551,550 shares, a decline of 24.0% from the December 31st total of 7,301,052 shares. Currently, 12.6% of the shares of the stock are short sold. Based on an average daily volume of 1,989,334 shares, the short-interest ratio is currently 2.8 days. Based on an average daily volume of 1,989,334 shares, the short-interest ratio is currently 2.8 days. Currently, 12.6% of the shares of the stock are short sold.

Beta Bionics Stock Up 5.1%

Beta Bionics stock traded up $0.70 during trading hours on Tuesday, hitting $14.40. 52,009 shares of the company traded hands, compared to its average volume of 1,447,835. Beta Bionics has a 1-year low of $8.89 and a 1-year high of $32.71. The firm has a market cap of $633.96 million and a P/E ratio of -3.30. The firm’s 50-day simple moving average is $25.63 and its two-hundred day simple moving average is $22.68.

Insider Buying and Selling

In other news, CFO Stephen Feider sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.53, for a total value of $590,600.00. Following the transaction, the chief financial officer owned 42,614 shares in the company, valued at $1,258,391.42. This trade represents a 31.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mike Mensinger sold 7,800 shares of Beta Bionics stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $29.61, for a total transaction of $230,958.00. Following the sale, the insider directly owned 82,952 shares in the company, valued at approximately $2,456,208.72. This trade represents a 8.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,490 shares of company stock valued at $960,835 in the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BBNX. GPS Wealth Strategies Group LLC raised its position in Beta Bionics by 45.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after acquiring an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Beta Bionics by 203.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock worth $47,000 after purchasing an additional 1,594 shares during the last quarter. Strs Ohio bought a new position in shares of Beta Bionics during the 1st quarter valued at $29,000. Ameritas Investment Partners Inc. lifted its stake in shares of Beta Bionics by 139.1% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 3,202 shares of the company’s stock valued at $64,000 after purchasing an additional 1,863 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Beta Bionics by 197.4% in the second quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock worth $58,000 after purchasing an additional 2,639 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen assumed coverage on Beta Bionics in a research report on Monday, January 26th. They issued a “hold” rating and a $17.00 target price for the company. Bank of America downgraded Beta Bionics from a “buy” rating to a “neutral” rating in a report on Friday, January 9th. Lake Street Capital boosted their price objective on shares of Beta Bionics from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Piper Sandler reissued an “overweight” rating and issued a $32.00 target price (up previously from $26.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. Finally, Stifel Nicolaus restated a “buy” rating and set a $31.00 price target (up from $26.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $27.18.

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.