Perceptive Advisors LLC Buys 240,000 Shares of Beta Bionics, Inc. $BBNX

Perceptive Advisors LLC increased its position in Beta Bionics, Inc. (NASDAQ:BBNX) by 39.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 842,944 shares of the company’s stock after acquiring an additional 240,000 shares during the quarter. Perceptive Advisors LLC owned about 1.89% of Beta Bionics worth $8,446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Beta Bionics in the first quarter worth approximately $95,000. Goldman Sachs Group Inc. bought a new stake in shares of Beta Bionics during the 1st quarter valued at $715,000. Woodline Partners LP purchased a new position in shares of Beta Bionics during the 1st quarter valued at $1,530,000. Strs Ohio purchased a new position in shares of Beta Bionics during the 1st quarter valued at $29,000. Finally, Rhumbline Advisers purchased a new position in shares of Beta Bionics during the 1st quarter valued at $158,000.

Analysts Set New Price Targets

BBNX has been the subject of a number of analyst reports. UBS Group assumed coverage on Beta Bionics in a research note on Tuesday, July 28th. They issued a “buy” rating and a $22.00 price target for the company. Stifel Nicolaus lowered their price objective on Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Bank of America dropped their price objective on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. The Goldman Sachs Group increased their target price on Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, Truist Financial lifted their target price on Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Beta Bionics has a consensus rating of “Moderate Buy” and a consensus price target of $20.10.

Insider Activity

In other news, insider Mike Mensinger sold 4,378 shares of Beta Bionics stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $55,206.58. Following the sale, the insider directly owned 184,415 shares of the company’s stock, valued at approximately $2,325,473.15. The trade was a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Jon Russell sold 4,222 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total value of $53,239.42. Following the completion of the sale, the insider owned 173,849 shares in the company, valued at $2,192,235.89. This represents a 2.37% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 40,351 shares of company stock valued at $553,961. 5.30% of the stock is owned by corporate insiders.

Beta Bionics Stock Performance

Shares of NASDAQ:BBNX opened at $12.83 on Friday. The firm has a market cap of $577.22 million, a price-to-earnings ratio of -7.78 and a beta of 3.04. The firm has a fifty day moving average price of $14.99 and a 200 day moving average price of $13.21. Beta Bionics, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.71.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.09. The company had revenue of $32.01 million for the quarter. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. As a group, research analysts predict that Beta Bionics, Inc. will post -2.14 earnings per share for the current year.

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.