Beta Bionics (BBNX)
Builds the iLet automated insulin delivery system for type 1 diabetes.
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Sells the iLet Bionic Pancreas and the cartridges and infusion sets used with it. Revenue is concentrated in the United States and tied to a single iLet-centered segment, with adoption shaped by reimbursement channels, compatible CGMs, and FDA quality-system oversight.
Builds and sells the iLet Bionic Pancreas, an automated insulin delivery system for people with type 1 diabetes. The platform includes the pump, dosing-decision software, compatible CGM connectivity, and single-use cartridges and infusion sets replaced during therapy.
Commercial activity is concentrated in the United States after FDA clearance, with sales flowing through durable medical equipment and pharmacy-benefit-plan reimbursement channels. Revenue remains predominantly tied to iLet systems, while consumables add recurring demand.
Execution depends on simplifying diabetes management through body-weight initialization, adaptive dosing, and meal announcements instead of conventional carbohydrate counting. The business also depends on compatible third-party CGMs and FDA oversight, including the warning letter tied to quality-system and correction or removal reporting issues.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 15, 2026 | Truist Financial | Target | Target: $22 | Target: $23 |
| Sep 15, 2026 | Robert W. Baird | Target | Target: $14 | Target: $16 |
| Sep 15, 2026 | UBS | Reiterate | Rating: —Target: $22 | Target: $25 |
| Sep 14, 2026 | Leerink Partners | Reiterate | Rating: —Target: — | Target: $27 |
| Aug 21, 2026 | William Blair | Initiate | Rating: — |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $180.5M · Total debt $6.5M · Total assets $292.4M · Shareholders' equity $256.4M
- Revenue
- $32.0M
- Operating income
- −$25.6M
- Net income
- −$23.4M
No dividends on record.
| Institutions | 107.47% | 48.35M shares | |
|---|---|---|---|
| 138 holders · as of Jun 30, 2026 | |||
| Insiders | 2.70% | 1.21M shares | |
| 11 holders · as of Sep 18, 2026 | |||
| Strategic holders | 5.69% | 2.56M shares | |
| 1 holder · as of May 12, 2026 | |||
| Adds to | 115.86% | ||
44.99M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 115.86%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Eventide Asset Management, LLCInstitution | 13.90% | 6.25M | as of Jun 30, 2026 |
Soleus Capital Management, L.P.Institution | 9.77% | 4.39M | as of Jun 30, 2026 |
Morgan StanleyInstitution | 9.48% | 4.27M | as of Jun 30, 2026 |
Sands Capital Ventures, LLCInstitution | 8.24% | 3.71M | as of Jun 30, 2026 |
Sands Capital Life Sciences Pulse Fund II. L.P.Institution | 7.94% | 3.57M | filed Aug 13, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 9, 2026 | Mark Hopman | officer: Chief Commercial Officer | −72,864 | $18.46 |
| Sep 16, 2026 | Mike Mensinger | officer: Chief Product Officer | −2,650 | $22.00 |
| Sep 16, 2026 | Mark Hopman | officer: Chief Commercial Officer | −30,779 | $20.13 |
| Sep 14, 2026 | Mark Hopman | officer: Chief Commercial Officer | −775 | $15.52 |
| Sep 3, 2026 | Sean Saint | director, officer: President & CEO | −5,641 | $20.08 |
- MiniMed Group
Integrated pump, CGM, and algorithm rival in AID systems
- Tandem Diabetes Care
Automated insulin-delivery pump rival with Control-IQ+
- Insulet
Tubeless Omnipod rival in automated insulin delivery
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Beta Bionics | $23.51 | +6.69% | $991.6M | — | — | 8.3 | +37.8% |
| MiniMed Group | $21.14 | +0.09% | $5.93B | — | 36.7 | 1.8 | — |
| Tandem Diabetes Care | $17.12 | −2.84% | $1.21B | — | — | 1.2 | +5.8% |
| Insulet | $139.99 | −0.39% | $9.73B | 26.3 | 20.3 | 3.2 | +23.5% |
| Median | 26.3 | 28.5 | 1.8 | +14.6% |