Beta Bionics (NASDAQ:BBNX) Stock Rating Upgraded by UBS Group

Beta Bionics (NASDAQ:BBNX) was upgraded by equities researchers at UBS Group to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Piper Sandler reiterated an “overweight” rating and issued a $32.00 price objective (up previously from $26.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. Lake Street Capital upped their target price on shares of Beta Bionics from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Truist Financial reduced their price objective on Beta Bionics from $37.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Robert W. Baird set a $28.00 price target on shares of Beta Bionics in a report on Tuesday, December 16th. Finally, Stifel Nicolaus dropped their price objective on Beta Bionics from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.42.

Beta Bionics Price Performance

NASDAQ BBNX traded down $0.61 during mid-day trading on Monday, reaching $14.17. 216,802 shares of the stock were exchanged, compared to its average volume of 1,390,128. The stock has a 50 day simple moving average of $23.65 and a 200-day simple moving average of $22.66. Beta Bionics has a one year low of $8.89 and a one year high of $32.71. The stock has a market cap of $623.91 million and a P/E ratio of -3.24.

Insider Buying and Selling

In other Beta Bionics news, CFO Stephen Feider sold 20,000 shares of the stock in a transaction on 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 sale, the chief financial officer owned 42,614 shares in the company, valued at approximately $1,258,391.42. This represents a 31.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mike Mensinger sold 7,800 shares of Beta Bionics stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $29.61, for a total value of $230,958.00. Following the sale, the insider directly owned 82,952 shares in the company, valued at $2,456,208.72. This trade represents a 8.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 32,490 shares of company stock valued at $960,835.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC bought a new position in Beta Bionics in the third quarter worth approximately $4,423,000. Divisadero Street Capital Management LP acquired a new stake in shares of Beta Bionics during the second quarter worth about $13,817,000. Sands Capital Alternatives LLC raised its stake in shares of 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 buying an additional 466,331 shares during the last quarter. Walleye Capital LLC grew its stake in shares of Beta Bionics by 47.3% during the 2nd quarter. Walleye Capital LLC now owns 218,189 shares of the company’s stock worth $3,177,000 after purchasing an additional 70,084 shares during the period. Finally, Values First Advisors Inc. boosted its stake in shares of Beta Bionics by 13.2% during the 2nd quarter. Values First Advisors Inc. now owns 42,563 shares of the company’s stock worth $620,000 after acquiring an additional 4,978 shares in the last quarter.

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.