Bruce & Co. Inc. Acquires New Shares in Beta Bionics, Inc. $BBNX

Bruce & Co. Inc. bought a new stake in Beta Bionics, Inc. (NASDAQ:BBNX) in the 1st quarter, Holdings Channel reports. The institutional investor bought 550,700 shares of the company’s stock, valued at approximately $5,518,000. Beta Bionics accounts for about 1.6% of Bruce & Co. Inc.’s holdings, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in BBNX. 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 worth $44,036,000 after buying an additional 1,509,217 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Beta Bionics in the fourth quarter valued at about $40,437,000. Eversept Partners LP bought a new position in shares of Beta Bionics during the fourth quarter worth about $20,667,000. 12 West Capital Management LP acquired a new position in shares of Beta Bionics in the fourth quarter worth approximately $17,520,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Beta Bionics by 4,236.8% in the first quarter. Y Intercept Hong Kong Ltd now owns 485,854 shares of the company’s stock worth $4,868,000 after acquiring an additional 474,651 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beta Bionics in a research note on Friday, July 17th. The Goldman Sachs Group boosted their target price on shares of Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Wall Street Zen cut shares of Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. Stifel Nicolaus cut their price target on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Finally, Bank of America dropped their price objective on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat, Beta Bionics presently has an average rating of “Moderate Buy” and an average target price of $20.30.

Insider Activity at Beta Bionics

In other Beta Bionics news, insider Mike Mensinger sold 4,378 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $55,206.58. Following the transaction, the insider directly owned 184,415 shares in the company, valued at $2,325,473.15. The trade was a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stephen Feider sold 4,896 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $17.03, for a total value of $83,378.88. Following the completion of the transaction, the chief financial officer owned 165,931 shares in the company, valued at approximately $2,825,804.93. The trade was a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 40,351 shares of company stock worth $553,961. 5.30% of the stock is owned by company insiders.

Beta Bionics Stock Performance

Shares of NASDAQ BBNX opened at $16.13 on Friday. The stock has a market cap of $718.75 million, a price-to-earnings ratio of -10.68 and a beta of 3.04. Beta Bionics, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.71. The firm’s 50-day simple moving average is $14.41 and its 200 day simple moving average is $13.69.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.04. The business had revenue of $27.63 million for the quarter. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. On average, sell-side analysts predict that Beta Bionics, Inc. will post -2.22 EPS for the current year.

Beta Bionics 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.