Robert W. Baird Cuts Beta Bionics (NASDAQ:BBNX) Price Target to $14.00

Beta Bionics (NASDAQ:BBNX) had its target price trimmed by Robert W. Baird from $28.00 to $14.00 in a research note released on Wednesday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also commented on the company. The Goldman Sachs Group restated a “buy” rating and issued a $25.00 price objective on shares of Beta Bionics in a research note on Thursday, January 15th. UBS Group raised Beta Bionics to a “strong-buy” rating in a report on Monday, February 9th. Piper Sandler restated an “overweight” rating and issued a $32.00 price target (up previously from $26.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Lake Street Capital raised their price objective on Beta Bionics from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Finally, Bank of America downgraded Beta Bionics from a “buy” rating to a “neutral” rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.64.

Beta Bionics Trading Up 1.8%

BBNX opened at $13.70 on Wednesday. The company’s 50 day moving average is $21.15 and its 200 day moving average is $22.45. The company has a market cap of $603.21 million and a price-to-earnings ratio of -7.03. Beta Bionics has a 12-month low of $8.89 and a 12-month high of $32.71.

Beta Bionics (NASDAQ:BBNX) last announced its earnings results on Tuesday, February 17th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.12. Beta Bionics had a negative net margin of 73.02% and a negative return on equity of 20.02%. The business had revenue of $32.12 million during the quarter.

Insider Transactions at Beta Bionics

In related news, CFO Stephen Feider sold 20,000 shares of the business’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 directly owned 42,614 shares of the company’s stock, valued at approximately $1,258,391.42. The trade was a 31.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mike Mensinger sold 7,800 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.61, for a total value of $230,958.00. Following the completion of the transaction, the insider owned 82,952 shares of the company’s stock, valued at $2,456,208.72. The trade was a 8.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 32,490 shares of company stock valued at $960,835.

Hedge Funds Weigh In On Beta Bionics

Several hedge funds have recently modified their holdings of BBNX. Essex Investment Management Co. LLC bought a new stake in shares of Beta Bionics in the 3rd quarter worth about $4,423,000. Divisadero Street Capital Management LP bought a new position in shares of Beta Bionics in the 2nd quarter valued at about $13,817,000. Sands Capital Alternatives LLC grew its position in Beta Bionics by 15.0% in the second quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock worth $51,981,000 after acquiring an additional 466,331 shares in the last quarter. Walleye Capital LLC increased its stake in Beta Bionics by 47.3% during the second quarter. Walleye Capital LLC now owns 218,189 shares of the company’s stock worth $3,177,000 after acquiring an additional 70,084 shares during the last quarter. Finally, Calamos Advisors LLC bought a new stake in Beta Bionics during the third quarter worth approximately $642,000.

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.