Beta Bionics (NASDAQ:BBNX) Given New $18.00 Price Target at Truist Financial

Beta Bionics (NASDAQ:BBNX) had its price target lowered by Truist Financial from $25.00 to $18.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

BBNX has been the topic of several other research reports. UBS Group raised Beta Bionics to a “strong-buy” rating in a 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. The Goldman Sachs Group dropped their price target on Beta Bionics from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Robert W. Baird cut their price target on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Finally, Stifel Nicolaus decreased their price objective on Beta Bionics from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Beta Bionics Stock Performance

Shares of BBNX stock opened at $13.02 on Wednesday. The firm has a market cap of $580.17 million, a price-to-earnings ratio of -6.68 and a beta of 5.06. Beta Bionics has a 52 week low of $8.80 and a 52 week high of $32.71. The firm’s 50-day simple moving average is $11.68 and its two-hundred day simple moving average is $20.20.

Beta Bionics (NASDAQ:BBNX) last released its earnings results on Tuesday, February 17th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $32.12 million during the quarter.

Hedge Funds Weigh In On Beta Bionics

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

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.