Brokerages Set Beta Bionics, Inc. (NASDAQ:BBNX) Price Target at $23.20

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $23.20.

Several equities research analysts have weighed in on the company. The Goldman Sachs Group restated a “buy” rating and set a $25.00 price target on shares of Beta Bionics in a report on Thursday, January 15th. Stifel Nicolaus decreased their price objective on Beta Bionics from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Truist Financial lowered their price objective on Beta Bionics from $37.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Robert W. Baird cut their target price on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Finally, Lake Street Capital set a $20.00 target price on shares of Beta Bionics in a report on Wednesday, February 18th.

Insider Buying and Selling

In related news, CFO Stephen Feider sold 20,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $29.53, for a total transaction of $590,600.00. Following the completion of the transaction, the chief financial officer owned 42,614 shares in the company, valued at approximately $1,258,391.42. The trade was a 31.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mike Mensinger sold 2,200 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $30.10, for a total value of $66,220.00. Following the completion of the transaction, the insider directly owned 80,752 shares in the company, valued at $2,430,635.20. This trade represents a 2.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 34,705 shares of company stock worth $945,653.

Institutional Trading of Beta Bionics

Institutional investors have recently bought and sold shares of the business. GPS Wealth Strategies Group LLC increased its holdings in shares of Beta Bionics by 45.0% in the 3rd 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 during the last quarter. Summit Securities Group LLC purchased a new stake in Beta Bionics during the fourth quarter worth approximately $52,000. Caitong International Asset Management Co. Ltd lifted its stake in Beta Bionics by 1,075.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock worth $61,000 after purchasing an additional 1,818 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Beta Bionics by 203.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Strs Ohio acquired a new position in Beta Bionics in the first quarter valued at approximately $29,000.

Beta Bionics Stock Down 4.5%

Shares of BBNX stock opened at $10.61 on Friday. The firm has a 50 day moving average of $17.53 and a two-hundred day moving average of $22.32. The stock has a market capitalization of $470.89 million, a PE ratio of -5.44 and a beta of 5.60. Beta Bionics has a 52 week low of $8.89 and a 52 week high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.12. The business had revenue of $32.12 million for the quarter. Beta Bionics had a negative return on equity of 20.29% and a negative net margin of 73.02%.

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.