Beta Bionics (NASDAQ:BBNX) Rating Lowered to Sell at Wall Street Zen

Beta Bionics (NASDAQ:BBNX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

A number of other analysts have also weighed in on BBNX. Stifel Nicolaus cut their price objective on shares of Beta Bionics from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. UBS Group upgraded shares of Beta Bionics to a “strong-buy” rating in a research report on Monday, February 9th. Bank of America lowered Beta Bionics from a “buy” rating to a “neutral” rating in a research note on Friday, January 9th. Lake Street Capital set a $20.00 target price on Beta Bionics in a research note on Wednesday, February 18th. Finally, Truist Financial reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Beta Bionics presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.20.

Beta Bionics Stock Down 8.4%

Beta Bionics stock opened at $9.86 on Friday. The stock has a 50-day moving average price of $12.88 and a 200 day moving average price of $21.26. The company has a market capitalization of $437.59 million, a price-to-earnings ratio of -5.06 and a beta of 5.59. Beta Bionics has a 52 week low of $8.89 and a 52 week high of $32.71.

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

Insider Activity

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

Institutional Trading of Beta Bionics

A number of institutional investors and hedge funds have recently made changes to their positions in BBNX. GPS Wealth Strategies Group LLC raised its stake in shares of Beta Bionics by 45.0% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock worth $29,000 after buying an additional 450 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Beta Bionics by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock valued at $10,105,000 after acquiring an additional 931 shares during the period. Deutsche Bank AG increased its holdings in Beta Bionics by 3.4% in the 4th quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock worth $1,197,000 after acquiring an additional 1,296 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Beta Bionics by 203.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock worth $47,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Beta Bionics during the fourth quarter worth $52,000.

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.