BBNX Gets Institutional Boost as Morgan Stanley Files 13G for 6.8% Holding

Rhea-AI Filing Summary

Morgan Stanley and its subsidiary Morgan Stanley Capital Services LLC have filed a Schedule 13G disclosing beneficial ownership of approximately 2.93 million Beta Bionics (BBNX) common shares, representing 6.8 % of the outstanding class as of 30 June 2025. All voting (2.93 m) and dispositive (2.93 m) rights are reported as shared; the firms hold no sole authority.

The filing was made under Rule 13d-1(b), signalling a passive investment. Morgan Stanley is classified as a parent holding company (HC), while the subsidiary is a broker-dealer (BD). The certification states the position was acquired in the ordinary course of business and not to influence control. A near-7 % institutional stake from a globally recognised financial institution may enhance BBNX’s liquidity, analyst coverage and investor credibility.

Positive

• Institutional validation: Morgan Stanley’s 6.8 % stake signals confidence and may attract further professional investors, supporting liquidity and valuation.

Negative

• Potential overhang: A large passive holder could create price pressure if it chooses to exit its 2.93 m-share position.

Insights

Portfolio Manager

TL;DR – Morgan Stanley quietly amasses 6.8 % of BBNX, adding institutional heft without activist intent.

For a small-cap healthcare technology firm, landing on Morgan Stanley’s radar is notable. A single holder now controls almost one-fourteenth of the float, likely tightening the trading spread and attracting copy-cat institutional flows. Because the 13G is passive, management keeps strategic freedom while benefiting from stronger market sponsorship. If BBNX executes operationally, the new ownership base could accelerate re-rating potential.

Corporate Governance Expert

TL;DR – Passive 13G limits control risks; disclosure improves transparency but has limited governance impact.

The Rule 13d-1(b) filing confirms Morgan Stanley is not pursuing control, mitigating takeover speculation. Shared voting authority indicates decisions rest with multiple internal desks, reducing coordinated influence on board matters. Governance risk therefore remains low. That said, concentrated ownership introduces a potential liquidity overhang should Morgan Stanley unwind the position.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Beta Bionics, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

08659B102

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,927,593.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,928,838.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,928,838.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.8 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Morgan Stanley Capital Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,899,502.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,899,502.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,899,502.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.7 %

12

Type of Reporting Person (See Instructions)

BD, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Beta Bionics, Inc.
(b)	Address of issuer's principal executive offices: 11 HUGHES, IRVINE, CA, 92618
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Capital Services LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 08659B102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 6.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Christopher O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	08/07/2025

Morgan Stanley Capital Services LLC

Signature:	Christopher O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley Capital Services LLC
Date:	08/07/2025

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

How many Beta Bionics (BBNX) shares does Morgan Stanley own?

The filing reports 2,928,838 common shares beneficially owned.

What percentage of BBNX does Morgan Stanley control?

Morgan Stanley’s position equals 6.8 % of the outstanding common stock.

Why did Morgan Stanley file a Schedule 13G instead of 13D?

A 13G indicates a passive investment with no intent to influence control, whereas 13D is used for active or activist positions.

Does Morgan Stanley have sole voting power over the shares?

No. The firm reports 0 sole voting power; all 2.93 m votes are held on a shared basis.

When was the ownership threshold crossed?

The event date triggering the filing is 30 June 2025.

Which Morgan Stanley entity holds the shares?

Both Morgan Stanley (parent HC) and Morgan Stanley Capital Services LLC (broker-dealer) report shared ownership.