Beta Bionics (NASDAQ:BBNX) Cut to “Neutral” at Bank of America

Beta Bionics (NASDAQ:BBNX) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Friday.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $32.00 price objective (up previously from $26.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Truist Financial lifted their price target on shares of Beta Bionics from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Lake Street Capital reissued a “buy” rating and issued a $35.00 price objective on shares of Beta Bionics in a research report on Wednesday, October 29th. The Goldman Sachs Group raised their price objective on shares of Beta Bionics from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $28.00 target price on Beta Bionics in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Beta Bionics has a consensus rating of “Moderate Buy” and a consensus target price of $29.70.

Beta Bionics Price Performance

Shares of BBNX stock opened at $31.99 on Friday. The company has a market cap of $1.41 billion and a PE ratio of -7.32. Beta Bionics has a 1 year low of $8.89 and a 1 year high of $32.71. The stock’s 50 day simple moving average is $29.43 and its two-hundred day simple moving average is $22.24.

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

Insider Buying and Selling at Beta Bionics

In related news, insider Mike Mensinger sold 7,800 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $29.61, for a total value of $230,958.00. Following the completion of the transaction, the insider owned 82,952 shares of the company’s stock, valued at $2,456,208.72. The trade was a 8.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Adam Lezack sold 1,406 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $26.87, for a total value of $37,779.22. Following the sale, the director owned 9,841 shares of the company’s stock, valued at approximately $264,427.67. This represents a 12.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,302 shares of company stock valued at $1,036,449 in the last 90 days.

Institutional Investors Weigh In On Beta Bionics

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

About Beta Bionics

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.