Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Beta Bionics, Inc. $BBNX

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Beta Bionics, Inc. (NASDAQ:BBNX) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,327,100 shares of the company’s stock, valued at approximately $40,437,000.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Beta Bionics by 3,238.0% in the third quarter. JPMorgan Chase & Co. now owns 205,955 shares of the company’s stock worth $4,092,000 after acquiring an additional 199,785 shares during the period. Pura Vida Investments LLC raised its position in Beta Bionics by 11,150.0% in the third quarter. Pura Vida Investments LLC now owns 281,250 shares of the company’s stock worth $5,588,000 after acquiring an additional 278,750 shares during the period. SG Americas Securities LLC bought a new stake in Beta Bionics in the fourth quarter worth about $4,579,000. Farallon Capital Management LLC raised its position in Beta Bionics by 2.6% in the third quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock worth $85,718,000 after acquiring an additional 110,000 shares during the period. Finally, First Eagle Investment Management LLC bought a new stake in Beta Bionics in the third quarter worth about $4,634,000.

Analyst Ratings Changes

BBNX has been the topic of several research reports. Weiss Ratings lowered shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Lake Street Capital set a $20.00 price target on shares of Beta Bionics in a research report on Wednesday, February 18th. Truist Financial lowered their price target on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Stifel Nicolaus lowered 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, Wall Street Zen lowered shares of Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Beta Bionics currently has an average rating of “Moderate Buy” and a consensus target price of $19.70.

Insider Activity at Beta Bionics

In related news, insider Steven Jon Russell sold 4,222 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $53,239.42. Following the completion of the transaction, the insider owned 173,849 shares of the company’s stock, valued at approximately $2,192,235.89. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mike Mensinger sold 4,378 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $55,206.58. Following the transaction, the insider directly owned 184,415 shares of the company’s stock, valued at approximately $2,325,473.15. This represents a 2.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 27,687 shares of company stock valued at $343,586 in the last quarter. 5.30% of the stock is currently owned by company insiders.

Beta Bionics Price Performance

NASDAQ BBNX opened at $14.53 on Monday. The company’s 50 day moving average is $11.31 and its 200-day moving average is $16.59. Beta Bionics, Inc. has a 12-month low of $8.80 and a 12-month high of $32.71. The firm has a market cap of $647.46 million, a P/E ratio of -9.62 and a beta of 3.40.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.04. The company 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%. Equities analysts expect 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.