Beta Bionics (NASDAQ:BBNX) Now Covered by UBS Group

Investment analysts at UBS Group assumed coverage on shares of Beta Bionics (NASDAQ:BBNX) in a report released on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $22.00 price target on the stock. UBS Group’s price objective points to a potential upside of 38.15% from the company’s previous close.

Several other research firms have also recently weighed in on BBNX. Bank of America dropped their price objective on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Leerink Partners decreased their price objective on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. The Goldman Sachs Group lifted their target price on Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Truist Financial boosted their target price on Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beta Bionics in a research note on Friday, July 17th. Seven equities research 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 data from MarketBeat, Beta Bionics has an average rating of “Moderate Buy” and a consensus price target of $20.10.

Beta Bionics Stock Performance

Shares of NASDAQ BBNX traded down $0.07 during trading on Tuesday, reaching $15.93. The company had a trading volume of 26,981 shares, compared to its average volume of 1,112,640. Beta Bionics has a 52 week low of $8.80 and a 52 week high of $32.71. The stock has a market cap of $709.65 million, a PE ratio of -10.56 and a beta of 3.04. The business’s 50 day moving average price is $14.67 and its 200-day moving average price is $13.49.

Insider Activity

In other Beta Bionics 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 transaction of $55,206.58. Following the transaction, the insider directly owned 184,415 shares in the company, valued at approximately $2,325,473.15. The trade was a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 shares were sold at an average price of $12.61, for a total value of $53,239.42. Following the completion of the transaction, the insider directly owned 173,849 shares of the company’s stock, valued at approximately $2,192,235.89. The trade was a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 40,351 shares of company stock valued at $553,961. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Evanson Financial LLC acquired a new stake in shares of Beta Bionics during the second quarter worth $490,000. Perceptive Advisors LLC raised its stake in shares of Beta Bionics by 39.8% in the 1st quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock valued at $8,446,000 after purchasing an additional 240,000 shares during the period. Eversept Partners LP lifted its holdings in shares of Beta Bionics by 108.6% in the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock valued at $14,177,000 after purchasing an additional 736,576 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Beta Bionics by 112.9% during the first quarter. Quantinno Capital Management LP now owns 67,879 shares of the company’s stock worth $680,000 after buying an additional 35,996 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Beta Bionics in the 1st quarter valued at approximately $720,000.

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.