Beta Bionics (NASDAQ:BBNX) Stock Price Down 4.1% – Here’s What Happened

Beta Bionics, Inc. (NASDAQ:BBNX) shares were down 4.1% during mid-day trading on Wednesday . The company traded as low as $17.43 and last traded at $17.68. Approximately 244,063 shares traded hands during trading, a decline of 86% from the average daily volume of 1,765,380 shares. The stock had previously closed at $18.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BBNX shares. The Goldman Sachs Group reiterated a “buy” rating and set a $25.00 price objective on shares of Beta Bionics in a research note on Thursday, January 15th. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 price objective (up from $26.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Robert W. Baird set a $28.00 price objective on Beta Bionics in a research note on Tuesday, December 16th. Lake Street Capital upped their target price on Beta Bionics from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Finally, Wall Street Zen lowered Beta Bionics from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Beta Bionics currently has an average rating of “Moderate Buy” and an average target price of $29.40.

Beta Bionics Stock Performance

The firm has a fifty day simple moving average of $27.99 and a 200-day simple moving average of $22.55. The company has a market capitalization of $747.19 million and a PE ratio of -3.88.

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

Insider Activity at Beta Bionics

In related news, 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 transaction, the director directly owned 9,841 shares in the company, valued at approximately $264,427.67. This trade represents a 12.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maria Palasis sold 1,406 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $26.91, for a total value of $37,835.46. Following the completion of the sale, the director directly owned 9,841 shares of the company’s stock, valued at approximately $264,821.31. This represents a 12.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 35,302 shares of company stock worth $1,036,449 over the last quarter.

Institutional Investors Weigh In On Beta Bionics

Institutional investors have recently made changes to their positions in the company. Eventide Asset Management LLC raised its position in shares of Beta Bionics by 0.5% during the 3rd quarter. Eventide Asset Management LLC now owns 4,957,252 shares of the company’s stock valued at $98,500,000 after acquiring an additional 24,901 shares in the last quarter. Farallon Capital Management LLC increased its stake in Beta Bionics by 2.6% during the third quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock valued at $85,718,000 after purchasing an additional 110,000 shares during the last quarter. Soleus Capital Management L.P. raised its holdings in shares of Beta Bionics by 12.5% during the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock worth $55,622,000 after purchasing an additional 424,817 shares during the period. Sands Capital Alternatives LLC lifted its position in shares of Beta Bionics by 15.0% in the 2nd quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock worth $51,981,000 after buying an additional 466,331 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Beta Bionics by 213.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after buying an additional 1,509,217 shares during the period.

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.