Beta Bionics, Inc. (NASDAQ:BBNX) Sees Large Growth in Short Interest

Beta Bionics, Inc. (NASDAQ:BBNX) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 7,301,052 shares, an increase of 81.6% from the December 15th total of 4,020,336 shares. Based on an average trading volume of 1,075,359 shares, the short-interest ratio is currently 6.8 days. Currently, 16.6% of the shares of the company are short sold. Currently, 16.6% of the shares of the company are short sold. Based on an average trading volume of 1,075,359 shares, the short-interest ratio is currently 6.8 days.

Insiders Place Their Bets

In other Beta Bionics news, Director Adam Lezack sold 1,406 shares of Beta Bionics stock in a transaction on Friday, October 31st. The shares were sold at an average price of $26.87, for a total transaction of $37,779.22. Following the completion of the transaction, the director directly owned 9,841 shares of the company’s stock, valued at $264,427.67. The trade was a 12.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maria Palasis sold 1,406 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $26.91, for a total transaction of $37,835.46. Following the completion of the transaction, the director directly owned 9,841 shares in the company, valued at $264,821.31. The trade was a 12.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 35,302 shares of company stock worth $1,036,449.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Divisadero Street Capital Management LP purchased a new stake in Beta Bionics in the 2nd quarter worth approximately $13,817,000. Goldman Sachs Group Inc. purchased a new stake in shares of Beta Bionics in the first quarter worth $715,000. Palumbo Wealth Management LLC bought a new position in Beta Bionics in the 2nd quarter worth $431,000. Sands Capital Alternatives LLC increased its stake in Beta Bionics by 15.0% in the 2nd quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock worth $51,981,000 after buying an additional 466,331 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in shares of Beta Bionics by 47.3% in the second quarter. Walleye Capital LLC now owns 218,189 shares of the company’s stock valued at $3,177,000 after acquiring an additional 70,084 shares in the last quarter.

Beta Bionics Stock Up 4.0%

NASDAQ:BBNX opened at $18.50 on Friday. The company has a fifty day moving average of $28.38 and a 200 day moving average of $22.36. The firm has a market capitalization of $814.56 million and a P/E ratio of -4.23. 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 data on Tuesday, October 28th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.12. The business had revenue of $27.25 million during the quarter, compared to analyst estimates of $23.92 million. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%.

Analyst Ratings Changes

Several research firms recently weighed in on BBNX. Truist Financial upped their price objective on shares of Beta Bionics from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 price objective (up previously from $26.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Lake Street Capital upped their price target on shares of Beta Bionics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group reissued a “buy” rating and issued a $25.00 price objective on shares of Beta Bionics in a research note on Thursday. Finally, Bank of America cut shares of Beta Bionics from a “buy” rating to a “neutral” rating in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

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.