Beta Bionics, Inc. (NASDAQ:BBNX) Given Consensus Rating of “Moderate Buy” by Analysts

Beta Bionics, Inc. (NASDAQ:BBNX) has received an average rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.20.

Several equities analysts recently weighed in on BBNX shares. Lake Street Capital set a $20.00 target price on shares of Beta Bionics in a research note on Wednesday, February 18th. Robert W. Baird decreased their target price on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. TD Cowen started coverage on shares of Beta Bionics in a research note on Monday, January 26th. They issued a “hold” rating and a $17.00 target price for the company. Truist Financial decreased their target price on shares of Beta Bionics from $37.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Finally, Stifel Nicolaus decreased their target price on shares of Beta Bionics from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th.

Institutional Investors Weigh In On Beta Bionics

Several hedge funds have recently added to or reduced their stakes in the business. Eventide Asset Management LLC lifted its holdings in Beta Bionics by 0.8% during the 4th quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock valued at $152,233,000 after purchasing an additional 37,476 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in Beta Bionics by 2.6% during the 3rd quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock valued at $85,718,000 after purchasing an additional 110,000 shares during the last quarter. Soleus Capital Management L.P. lifted its holdings in Beta Bionics by 12.5% during the 2nd quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock valued at $55,622,000 after purchasing an additional 424,817 shares during the last quarter. Sands Capital Alternatives LLC lifted its holdings in Beta Bionics by 15.0% during the 2nd quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock valued at $51,981,000 after purchasing an additional 466,331 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Beta Bionics by 213.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after purchasing an additional 1,509,217 shares during the last quarter.

Beta Bionics Stock Up 0.2%

Shares of BBNX opened at $9.95 on Tuesday. The stock has a market capitalization of $441.58 million, a P/E ratio of -5.10 and a beta of 5.06. Beta Bionics has a twelve month low of $8.89 and a twelve month high of $32.71. The company has a 50 day moving average of $12.22 and a 200-day moving average of $20.76.

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 during the quarter.

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.