Beta Bionics (NASDAQ:BBNX) Stock Price Up 8.7% – What’s Next?

Beta Bionics, Inc. (NASDAQ:BBNX) shares were up 8.7% on Monday . The stock traded as high as $32.06 and last traded at $31.80. Approximately 1,270,709 shares traded hands during mid-day trading, an increase of 99% from the average daily volume of 638,710 shares. The stock had previously closed at $29.25.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BBNX. Robert W. Baird set a $28.00 price objective on shares of Beta Bionics in a research report on Tuesday, December 16th. Truist Financial boosted their target price on shares of Beta Bionics from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Lake Street Capital restated a “buy” rating and issued a $35.00 price target on shares of Beta Bionics in a report on Wednesday, October 29th. The Goldman Sachs Group lifted their price objective on shares of Beta Bionics from $26.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Beta Bionics from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 1st. One research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.33.

Beta Bionics Price Performance

The business’s fifty day moving average price is $27.52 and its two-hundred day moving average price is $21.33.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Tuesday, October 28th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.12. The company had revenue of $27.25 million during the quarter, compared to analysts’ expectations of $23.92 million. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%.

Insider Transactions at Beta Bionics

In other news, insider Mike Mensinger sold 1,063 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.34, for a total value of $31,188.42. Following the completion of the transaction, the insider directly owned 90,752 shares in the company, valued at $2,662,663.68. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Adam Lezack sold 1,406 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $26.87, for a total transaction of $37,779.22. Following the completion of the transaction, the director owned 9,841 shares in the company, valued at approximately $264,427.67. This trade represents a 12.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 25,302 shares of company stock valued at $568,505 over the last three months.

Institutional Investors Weigh In On Beta Bionics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eventide Asset Management LLC acquired a new position in shares of Beta Bionics in the 1st quarter valued at about $60,307,000. Omega Fund Management LLC purchased a new position in shares of Beta Bionics during the 1st quarter valued at approximately $24,337,000. Vanguard Group Inc. increased its holdings in shares of Beta Bionics by 213.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after purchasing an additional 1,509,217 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of Beta Bionics in the 2nd quarter valued at $13,817,000. Finally, Driehaus Capital Management LLC purchased a new stake in Beta Bionics during the first quarter worth $10,799,000.

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.