Mark Hopman Sells 6,818 Shares of Beta Bionics (NASDAQ:BBNX) Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 6,818 shares of Beta Bionics stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $19.97, for a total transaction of $136,155.46. Following the completion of the sale, the insider owned 31,215 shares in the company, valued at approximately $623,363.55. This represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Mark Hopman also recently made the following trade(s):

• On Friday, September 5th, Mark Hopman sold 11,411 shares of Beta Bionics stock. The shares were sold at an average price of $20.56, for a total transaction of $234,610.16.
• On Tuesday, September 2nd, Mark Hopman sold 848 shares of Beta Bionics stock. The shares were sold at an average price of $18.86, for a total value of $15,993.28.
• On Tuesday, August 19th, Mark Hopman sold 16,158 shares of Beta Bionics stock. The stock was sold at an average price of $16.61, for a total value of $268,384.38.

Beta Bionics Price Performance

Shares of Beta Bionics stock opened at $24.87 on Thursday. The stock has a 50 day moving average of $16.20 and a 200 day moving average of $15.20. Beta Bionics, Inc. has a 12 month low of $8.89 and a 12 month high of $25.30.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.12. The firm had revenue of $23.24 million for the quarter, compared to analysts’ expectations of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On Beta Bionics

A number of large investors have recently made changes to their positions in the company. Eventide Asset Management LLC bought a new position in Beta Bionics during the 1st quarter valued at about $60,307,000. Wellington Management Group LLP purchased a new position in shares of Beta Bionics during the first quarter valued at approximately $47,346,000. Soleus Capital Management L.P. grew its stake 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 valued at $55,622,000 after buying an additional 424,817 shares during the last quarter. Sands Capital Alternatives LLC raised its holdings in shares of Beta Bionics by 15.0% in the second 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 period. Finally, Sands Capital Ventures LLC purchased a new stake in shares of Beta Bionics in the first quarter worth approximately $37,990,000.

Analyst Ratings Changes

Several equities analysts have commented on BBNX shares. Robert W. Baird set a $17.00 price objective on shares of Beta Bionics and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Truist Financial increased their price target on shares of Beta Bionics from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on Beta Bionics in a research note on Friday, May 30th. They set a “neutral” rating and a $16.00 price objective on the stock. Wolfe Research assumed coverage on Beta Bionics in a research report on Friday, May 30th. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, Lake Street Capital assumed coverage on Beta Bionics in a research note on Thursday, June 12th. They issued a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Beta Bionics presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.56.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.