Beta Bionics (NASDAQ:BBNX) Trading 7.6% Higher – Still a Buy?

Beta Bionics, Inc. (NASDAQ:BBNX)’s share price shot up 7.6% during mid-day trading on Thursday . The stock traded as high as $29.90 and last traded at $29.82. 133,100 shares were traded during trading, a decline of 78% from the average session volume of 603,986 shares. The stock had previously closed at $27.72.

Wall Street Analysts Forecast Growth

BBNX has been the subject of a number of analyst reports. Wall Street Zen raised Beta Bionics from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Truist Financial reiterated a “buy” rating and issued a $32.00 target price (up previously from $28.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Robert W. Baird set a $23.00 price target on shares of Beta Bionics in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Beta Bionics in a report on Wednesday. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Beta Bionics in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.

Beta Bionics Stock Up 10.6%

The firm has a market cap of $1.38 billion and a P/E ratio of -7.19. The firm’s 50-day simple moving average is $23.82 and its 200 day simple moving average is $18.96.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.12. The company 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%. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Transactions at Beta Bionics

In other news, CFO Stephen Feider sold 15,018 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $20.76, for a total transaction of $311,773.68. Following the completion of the transaction, the chief financial officer owned 44,041 shares in the company, valued at approximately $914,291.16. This represents a 25.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adam Lezack sold 1,406 shares of Beta Bionics stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $26.87, for a total value of $37,779.22. Following the completion of the sale, the director directly owned 9,841 shares of the company’s stock, valued at approximately $264,427.67. This trade represents a 12.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,555 shares of company stock worth $951,562 over the last quarter.

Institutional Trading of Beta Bionics

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in Beta Bionics in the 1st quarter worth approximately $316,000. TD Asset Management Inc purchased a new stake in shares of Beta Bionics during the first quarter worth $488,000. Charles Schwab Investment Management Inc. bought a new position in shares of Beta Bionics in the first quarter worth $1,244,000. Deutsche Bank AG purchased a new position in shares of Beta Bionics in the first quarter valued at $148,000. Finally, Invesco Ltd. purchased a new position in shares of Beta Bionics in the first quarter valued at $202,000.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.